WASHINGTON: The US Federal Reserve has raised interest rates for a sixth straight time, extending a policy of gradually lifting borrowing costs to levels high enough to ward off inflation pressures.
The unanimous decision by the US central bank’s policy-setting Federal Open Market Committee (FOMC) moved the target for the benchmark federal funds rate – which affects credit costs throughout the economy – to 2.5%.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
