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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UNBELIEVABLE: Fed to raise interest rate again amid core inflation pressure | History Defined

US Federal Reserve Inflation United States Adam Posen ECB The Bank of England Interest Rates Recession Economy eurozone
The US Federal Reserve building in Washington
The rise is expected to be followed by a quarter of a percentage point increase from the ECB and Bank of England. Photograph: Jonathan Ernst/Reuters

The US is braced for an interest rate rise on Wednesday that could push the world’s largest economy into recession.

The Federal Reserve is expected to announce another quarter of a percentage point rise in its benchmark interest rate, to a range of 5% to 5.25%. It would be the central bank’s 10th consecutive rate rise as it prioritises the fight against rising prices. A year ago interest rates were close to zero.

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