Fed interest rate decision announced

The US Federal Reserve announced its interest rate decision in the light of the banking confidence crisis and inflation dilemma.

The Fed increased the policy rate by 25 basis points to 5 - 5.25 per cent.
With the announced decision, it was the 10th interest rate increase since March 2022. The decision was taken unanimously.

A 25 basis point rate hike was also expected in the markets. The interest rate thus increased to the highest level since August 2007. The bank signalled that interest rate hikes may have come to an end.