U.S. Fed hikes interest rates to 15-year high

WASHINGTON, Dec. 14 (Xinhua) -- The U.S. Federal Reserve on Wednesday hiked interest rates to their highest point in 15 years, signaling that the central bank's battle against inflation is far from finished.

The Federal Open Market Committee voted to raise the overnight rate of borrowing by half a percentage point, continuing in the most aggressive rate raising cycle in 40 years.