US interest rates up. The Fed raised its key rate by 25 basis points to a range of 4.50-4.75 percent. This is the smallest increase since March last year and a response to falling inflation. However, interest rates are at their highest level since 2007.
The Federal Open Market Committee (FOMC) announced that the federal funds rate range was raised to 4.50-4.75 percent.
This decision is in line with the expectations of economists and commentators, who expected the rate of increase to slow down in response to the declining inflation.
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Main photo source: EPA/JUSTIN LANE