Fed finally raises US interest rates

US central bank signals three more hikes to come next year

14th December, 2016
The US Federal Reserve

The US Federal Reserve has raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017, saying inflation expectations have increased “considerably” and suggesting the labour market is tightening.

The Federal Open Market Committee cited “realized and expected labor market conditions and inflation” in increasing its benchmark rate by a quarter percentage point, according to a statement following a two-day meeting in Washington.

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