The Fed announces critical interest rate decision
In its July meeting, the Fed kept the policy rate unchanged at the 5.25-5.50 percent range in line with expectations, maintaining the rate at its highest level in 23 years.
The Federal Open Market Committee (FOMC), which determines the monetary policy of the US Federal Reserve (Fed), kept the target range for the policy rate at 5.25-5.50 percent in line with market expectations, maintaining the rate at its highest level in 23 years for the eighth consecutive time.
11 interest rate hikes have been implemented since March 2022
The Fed, which began interest rate hikes in 2022 after completing its asset purchase operation in the face of high inflation in the US, has implemented 11 interest rate hikes since March 2022, increasing the interest rate by a total of 525 basis points.
With these increases, the bank's policy rate rose to the 5.25-5.50 percent range, the highest level since 2001. The bank last implemented a 25 basis point increase in the policy rate in July 2023.
News Source: 12punto
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