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Financial News: PETROBRAS: U.S. Interest Rate Increase Will Hit All

PETROBRAS: U.S. Interest Rate Increase Will Hit All The Companies

05/08/2018 - 17:48:00 (RTTNews)

(RTTNews) - The interest rate increases expected this year in the United States will affect the major world economies and the companies, consequently, said Ivan Monteiro, the chief financial officer at Petrobras, the Brazilian state-owned oil company.

"The reduction of the company's debt at this time of interest rates increase matters because it gives us more security," said Monteiro during a press conference. "We are going into a scenario of interest rate growth with high debt. Payment of interest would impact the company."

The US central bank forecasts two additional increases in the country's benchmark interest rate this year, which currently ranges between 1.50% and 1.75%. Investors, however, are preparing for three additional rises.

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