The United States Federal Reserve has announced its latest interest rate hike, a move aimed at lowering inflation by making borrowing more expensive for consumers.The increase of a quarter of a percentage point on Wednesday sets the US central bank’s benchmark overnight interest rate in the 4.75 to 5 percent range, its highest level in 15 years.The increase was widely expected and underscores the Federal Reserve’s determination to rein in inflation, which remains above policymakers’ long-term annual target of two percent.
Load More
Load More