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The Independent UK
The Independent UK
National
Eric Garcia

Federal Reserve raises interest rates by a quarter-point and calls banking system ‘sound and resilient’

US Federal Reserve Interest Rates the Federal Reserve
Copyright 2023 The Associated Press. All rights reserved

The Federal Reserve announced that it would raise interest rates by a quarter point on Wednesday as it attempted to reassure markets that the global banking system is secure.

The central bank announced that it would move its federal funds rate range to between 4.75 and 5 per cent.

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