Fed expected to lift US interest rates

The Federal Reserve was expected to raise interest rates on Tuesday 10 August, for the second time this year despite weak US employment growth statistics.

Many experts predicted that Fed chairman Alan Greenspan and his FOMC colleagues would raise the federal funds target rate, which banks charge each other overnight, to 1.5 percent from 1.25.

The US central bank lifted rates from their four-decade low on 30 June amid signs that it had embarked on a policy of gradual increases.

Despite poor empl

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