The US central bank has met economists’ expectations and the official interest rate of the world’s largest economy has moved to a range of between 3 and 3.25%, the highest level in the past 14 years.
Euskaraz irakurri: AEBko Erreserba Federalak interes-tasak 0.75 igotzea erabaki du, azken sei hilabeteetako bosgarren igoera
The US Federal Reserve (Fed) announced a 0.75 point rise in official interest rates on Wednesday, the fifth rise since March and the third straight three-quarter point, in a new attempt to contain inflation.
The US central bank has met economists’ expectations and the official interest rate of the world’s largest economy has moved to a range of between 3 and 3.25%, the highest level in the past 14 years.
After a two-day meeting, members of the Fed’s Federal Open Market Committee made this decision.
This increase comes a week after the most recent inflation data was released, which showed that while the annualized CPI fell two-tenths to 8.3% in August, prices were up one-tenth monthly from July.
Data shows that the Fed’s series of rate hikes since March are not yet having the desired effect on prices.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
