RBS survey: Fed to match ECB for rate rises this year

The Federal Reserve will raise borrowing costs by at least as much as the European Central Bank (ECB) in 2006, according to a Royal Bank of Scotland Group survey. The Federal Reserve has raised interest rates 14 consecutive times since June 2004 to a four-year high of 4.5%, and futures prices show traders expect the central bank to raise rates twice more. The ECB raised its benchmark rate for the first time in five years in December. It will probably raise borrowing costs to 3% by the end of the year, futures prices show. "Given that the Fed has been raising rates for nearly two years, ...