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US Federal Reserve raises target interest rate by 75 bps, highest since 1994

US Federal Reserve raises target interest rate by 75 bps, highest since 1994

Jun 16, 2022, at 07:23 am

Wahington: America's central bank Federal Reserve Wednesday increased its target interest rate by three-quarters of a percentage point, and signaled more hikes in the coming months to stem the biting inflation.