Washington: The US Federal Reserve on Wednesday raised interest rate by 25 basis points, which is modest compared to previous hikes aimed at curbing
Washington: The US Federal Reserve on Wednesday raised interest rate by 25 basis points, which is modest compared to previous hikes aimed at curbing inflation but came amidst uncertainty about the banking system that has taken a hit in the last few weeks triggering fears of a larger problem.
This hike takes the target rate in the 4.75 per cent to 5 per cent range, which is the highest since the start of the recession in September 2007.
