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US Federal Reserve
The US Federal Reserve isn’t done with raising interest rates.
The central bank has pulled off its 10th consecutive interest rate increase, raising it by 0.25 percentage points, in a bid to tame inflation which is running at more than double its 2% target level.
The unanimous decision by the officials has brought the benchmark overnight interest rate to between 5% and 5.25%, the highest since August 2007.
But if you are wondering just when the Federal Reserve will stop raising rates, there’s hope for a reprieve.
Officials have said that they need time to assess the fallout from recent bank failures at Silicon Valley Bank and Signature Bank and to monitor the course of inflation.
As such, the central bank has signalled that it may pause further rate hikes but stopped short of stating that it will end its rate hike regime....