U.S. Fed lifts interest rate 0.25 point
U.S. Fed lifts interest rate 0.25 point

The U.S. Federal Reserve raised its benchmark lending rate on Wednesday, continuing a hiking cycle to tackle high inflation while warning that recent banking troubles could hit households and businesses.

The quarter-point increase raises the target range to 4.75-5.00 percent, the Fed announced in a statement, adding that recent banking sector developments "are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation."

Source(s): AFP

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