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US Fed issues rate hike

by ChemOrbis Editorial Team - content@chemorbis.com
  • 15/06/2017 (11:33)
According to media reports, the US Federal Reserve (Fed) raised its key interest rates by 25 basis points at their meeting on June 14. The Fed’s new target interest rate range stands at 1-1.25% from the previous 0.75-1%.

The decision to increase the rates was attributed to the improving US economy and the strengthening labor market.

The rate of inflation slowed to 1.9% in May from 2.7% in February while the Fed expects inflation to reach their target of 2% in 2018 and the economy to grow at a similar pace in the next three years.

It is considered likely that the Fed will issue one more hike in 2017 and three more in 2018.
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