The US Federal Reserve extended its fight against high inflation on Wednesday (Thursday AEDT) by raising its key interest rate by 0.25 per cent, its eighth hike since March.And the US central bank signalled that even though inflation is easing, it remains high enough to require further rate hikes.Though smaller than its previous hike - and even larger rate increases before that - the Fed's latest move will likely further raise the costs of many consumer and business loans and the risk of a recession.
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