The US central bank has increased interest rates by 0.75% to combat inflation - the sharpest hike in 28 years.
The Federal Reserve raised the rate to a range of 1.5% to 1.75%, which has not been seen since before the pandemic began.
The increase will make it costlier for people, businesses and governments to borrow, affecting consumer products like credit cards and mortgages. The Fed's chairman, Jerome Powell, had previously ruled out such a high increase but the unexpected increase in inflation - which many had hoped had peaked - forced the bank to change course.
Data published on Friday showed US inflation hit a 40-year high of 8.6% last month, one of the highest in the world.The news prompted a sharp sell-off in bonds and stocks by investors who anticipated Wednesday's interest rate rise.Related Topics
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
US stocks plunge into bear market as S&P 500 and Dow Jones sinkS&P 500 plummets to new low for the year while Dow Jones closes down 875 points, as US investors fret about possible recession
Lire la suite »
Peter Kenyon and US consortium in talks over £500m deal to buy EvertonPeter Kenyon is fronting a consortium who are in talks over a deal to purchase Everton Football Club. Kenyon, who was chief executive at Manchester United and Chelsea before being involved with Par…
Lire la suite »
Oxford Street: Tax investigation into US-themed sweet shopsAmerican-style sweet shops are investigated for allegedly failing to pay £7.9m in business rates.
Lire la suite »
US senator seeks answers from HSBC over banker’s suspension\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Lire la suite »
Ex-US Attorney BJay Pak Testifies on ‘Suitcase Full of Ballots' VideoBJay Pak, a former Trump-appointed U.S. Attorney from Georgia, testified that he was asked by Attorney General William Barr to look into a conspiracy theory about a video involving a “suitcase full of ballots” in Atlanta, Georgia.
Lire la suite »