The US Federal Reserve raises interest rates by another 0.25 point

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The US Federal Reserve raises interest rates by another 0.25 point

It has placed them in a target range between 4.50% and 4.75%. For its part, the European Central Bank (ECB) is expected to raise its interest rates by half a percentage point to 3% this Thursday.

Euskaraz irakurri: Erreserba Federalak aho batez erabaki du interes-tasak best 0.25 puntu igotzea

The Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) has decided to unanimously approve a 25 basis point increase in the country’s interest rates until they fall into a target range between 4.50% and 4.75% are posted as reported this Wednesday.

The personal consumption spending index, the variable the Fed prefers to measure the inflationwas in the last December 5% on an annual basis and five-tenths less than the previous month. The monthly rate registered an increase of 0.1%, with no change from the previous month.

The underlying variable, which excludes energy and food prices from the calculation because of their higher volatility, was 4.4%, three tenths less.

In addition, the American labor market has emerged 223,000 jobs in the last month of December. For its part, unemployment fell two-tenths to 3.5%, according to the Department of Labor’s Office of Labor Statistics.

In this way, unemployment is recovering to the minimum level reached before the pandemic, which was also the lowest level in decades.

The country’s economy experienced a growth of 0.7% of GDP in the fourth quarter and 2.1% for all of 2022, the Bureau of Economic Analysis (BEA, for its acronym in English) has revealed.

The ECB raises interest rates by half a percentage point

For its part, the European Central Bank (ECB) will increase its interest rates by half a percentage point this Thursday, to a maximum 3%and will provide clues as to what he will be doing in March and May.

After the meeting, the ECB will announce details about the quantitative tapering of the debt purchase program that started in October 2014, although surprises that will affect the market have been ruled out for the time being.

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Source: EITB

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