Fed rate hike could have greater global repercussions than in the past: ECB

A rate hike by the Federal Reserve could have greater global repercussions than in the past because the economy has changed and central banks have little experience moving away from interest rates of zero, European Central Bank Vice President Vitor Constancio said. A Fed hike would have a bigger impact because emerging markets, particularly China, are now integrated in the global economy to an unprecedented degree, countries are more interlinked in production, cross-border capital flows have inc