The US Federal Reserve raised its rate 0.25 points to 4.00%, the first hike in three years. CIMB Thai's research head says markets may be underpricing further hikes, with the 10-year US bond yield possibly reaching 5.3%. He flags a risk the baht could weaken to 34 per dollar, with oil above $100 a barrel adding pressure, and that Thai rates could eventually follow upward. For an SME, this points to possible higher import costs and borrowing costs ahead. Review USD-linked import payments, consider locking in or hedging FX exposure, and check any floating-rate loans. These are forecasts from one bank's analyst, not confirmed policy.