Fed delivers 25bp hike

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The US Federal Reserve delivered a 25 basis point rate hike today (March 15), following a series of particularly clear hints from top policy-makers that such a move was on its way.

The Federal Open Market Committee (FOMC) voted unanimously to raise rates to a range of 0.75–1.00%. In a statement, the committee said information received since the February meeting “indicates that the labour market has continued to strengthen and that economic activity has continued to expand at a moderate pace.”