US Federal Reserve hikes interest rates by 25 basis points

Washington [US], May 4 (/WAM): The US Federal Reserve, in its meeting held today, raised interest rates by 25 basis points (bp).

The decision sets the US Central Bank's benchmark overnight interest rate to the 5.00 per cent - 5.25 per cent range, the tenth consecutive increase since March 2022. (/WAM)

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