The is expected today to raise interest rates by 25 basis points, slashing its planned hike after banking collapses caused turmoil in the sector.The market is betting that when the central bankers wrap their two-day meeting at 2pm they will announce a target range of 4.75 to 5 percent, pushing the rate a quarter percentage point higher.While this will be the highest rate since 2007, the Fed was anticipated to make a 50 basis point hike just two weeks ago before the collapse of Silicon Valley Bank.
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