Mubasher: The United States Federal Reserve Bank raised interest rates on Wednesday, in a move that was widely expected.
The benchmark overnight lending rate in the United States has been increased by 25 basis points or 0.25% to a range of 1.50% to 1.75%, the bank said.
This is the first policy meeting under the new Federal Reserve chair Jerome Powell.
Powell expressed confidence in the economic growth and inflation rates in the US.
Source:
Mubasher
