Federal reserve raises benchmark rates, biggest interest rate hike in 3 decades
Edited By WION Video Desk
Published: Jun 16, 2022, 07:02 IST | Updated: Jun 16, 2022, 07:02 IST
The US Federal Reserve raised its benchmark interest rate by 75 basis point. This is the biggest and most aggressive interest rate increase since 1994. The Federal Open Market Committee said that it decided to raise the target range for the benchmark borrowing rate to 1.5%-1.75%.
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