This is the tenth consecutive increase decided by the US central bank. In its statement, the Fed says it will “take into account” the effects of rate hikes before raising them again.
The US central bank (Fed) announced a quarter-point rate hike on Wednesday in the face of still-high inflation, despite signs that the US economy is losing steam and of the recent banking crisis. This is the tenth consecutive increase.
The Fed’s main rate is now in a range of 5.00 to 5.25%, the highest since 2006, after a unanimous decision.
Highest since 2006
Fed officials say they will watch the effects of successive decisions, and how long they affect the real economy, to decide whether to further tighten monetary policy to bring inflation down to 2.00%.
Which paves the way for a break in his rate hike campaign.
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Source: BFM TV
