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US Fed issues rate hikes, two more to come in 2017

by ChemOrbis Editorial Team -
  • 16/03/2017 (11:50)
According to media reports, the US Federal Reserve (Fed) raised its key interest rates by 25 basis points at their meeting on March 15. The Fed’s new target interest rate range stands at 0.75-1% from the previous 0.50-0.75%.

The decision to increase the rates was attributed to the improving US economy, highlighting the strengthening labor market as well as the increase in consumer spending and employment.

The Fed also said it is likely that they will issue two more rate hikes in 2017, three in 2018 and three in 2019 while they kept their estimates of economic growth at 2.1% for 2017/2018 and 1.9% for 2019.
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