Bankers Around The World Weigh In On Fed Rate Debate

The US Federal Reserve has been talking about raising interest rates for nearly a year, but the bank has yet to make any moves. Investors around the world have closely examined US economic indicators and scoured the bank's meeting minutes for clues about when a rate hike may take place. Most analysts said they saw the bank making a move before the end of 2015, but with only a few meetings left, time is running out.

The International Monetary Fund meeting in Lima, Peru saw many of the world's central bankers

on the Fed's rate hike plans. Those from emerging-market economies pressed the US central bank to raise rates sooner rather than later, as the uncertainty that has plagued markets for nearly a year has increased volatility in their already fragile financial systems. Others like Germany's Jens Weidmann agree that the bank should move forward with a rate hike, saying that if economic data supports higher interest rates, the Fed should move swiftly.

However, Fed officials

they are inclined to proceed with caution. While risks to emerging markets was one reason the Fed was hesitant to raise rates, the bank is also worried about how weakness in the global marketplace will affect the US' economic recovery. Recent data from the US has been softer than expected, and after China's market volatility, some feel that the global economy can't withstand a rate increase at this time.