(Bloomberg) -- Copper futures in New York tumbled the
most in two weeks on expectations that rising borrowing costs in
major economies will slow economic growth and limit demand for
metals.
Copper, which generally moves in tandem with economic
growth, has gained 15 percent this year during a global
expansion. The U.S. Federal Reserve is unlikely to cut interest
rates before 2008, according to a Bloomberg survey. Economists
last month forecast a 25 basis-point cut in the fourth quarter.
The European Central Bank, the Reserve Bank of New Zealand and
South Africa's central bank raised interest rates this week.
Read more at Bloomberg Commodities News
most in two weeks on expectations that rising borrowing costs in
major economies will slow economic growth and limit demand for
metals.
Copper, which generally moves in tandem with economic
growth, has gained 15 percent this year during a global
expansion. The U.S. Federal Reserve is unlikely to cut interest
rates before 2008, according to a Bloomberg survey. Economists
last month forecast a 25 basis-point cut in the fourth quarter.
The European Central Bank, the Reserve Bank of New Zealand and
South Africa's central bank raised interest rates this week.
Read more at Bloomberg Commodities News
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