THE US Federal Reserve Bank’s Open Market Committee voted on Tuesday to raise interest rates by 25 basis points for the secnd time in two months. The rate stands at 5,25%. The move was widely expectd in the wake of figures showing hints of inflation in the US economy, and many markets around the world have already “discounted” or factored in the move. Local rates are not expected to rise in response, since the move has been coming for some time.
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