US Fed raises interest rates by a quarter-point
- Economy
- AFP
- Published Date: 09:11 | 03 May 2023
- Modified Date: 09:11 | 03 May 2023
The US Federal Reserve raised its benchmark lending rate for a tenth consecutive time on Wednesday and signaled it would consider the impact of earlier rate hikes on future decisions.
The quarter-point increase lifts the target range to between 5.0 percent and 5.25 percent, the central bank said in a statement, adding that it would "take into account" the impact of tighter monetary policy and "economic and financial developments" going forward.
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