Thursday, 15 June 2017

US Fed forges on with 25 bps rate hike, asset plan amid inflation

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The US Federal Reserve (US Fed) on Wednesday forged ahead with a 25 bps interest rate hike and additional plans to tighten monetary policy despite growing concerns over weak inflation.

Policymakers agreed to raise their benchmark lending rate for the third time in six months to 1.25% from 1%, maintained their outlook for one more rate hike in 2017, and set out some details for how they intend to shrink their $4.5 trillion balance sheet this year.

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