- The Fed has announced that rates are rising – the first increase in three years
- It raised rates from 3.5-3.75% to 3.75-4%
- The board voted unanimously, 12-0
- However, this was expected, our business reporter writes
- The Fed’s forecasts also suggest another increase could happen before the end of the year
US central bank raises interest rates for first time in more than three years – follow live
The Federal Reserve has been under pressure to hike interest rates, which influence mortgages and savings, to help curb rising prices.
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