Intensifying its fight against high inflation, the US Federal Reserve raised its key interest rate by substantial three-quarters of a point for a third straight time and signalled more large rate hikes to come.

Inflation across the developed world is surging, with the rising cost of living expenses at the highest level since the 1980s.

Global Inflation Concerns

US Federal Reserve hikes rates to fight inflation

The US Central Bank, the FED has announced another big increase in interest rates. The third rise in a row to battle inflation. The bank's chairman Jerome, Powell hinted that there may be more races to come today. The fomc raised its policy interest rate by three-quarters of a percentage point. And we anticipate that ongoing increases will be appropriate. We are continuing vishal's expect to raise that Benchmark rate to about 4.4%. By the end of the year, a full percentage Point higher than they had anticipated in June and they plan to raise the rate, even further next year to about 4.6%. Sure. That would be the highest level since 2007.

SEE THE FULL STORY

Global Inflation Concerns