Report says Fed likely to hike rates again

The U.S. Federal Reserve is likely to raise the target for its key short-term interest rate to 3 percent from 2.75 percent when its rate-setting committee meets on Tuesday, The Wall Street Journal said on Friday 29 April.

The U.S.'s central bank continues to see signs of an upward creep in inflation as a bigger threat than slowing economic growth, the Journal's Fed-watcher Greg Ip wrote in an article with Michael Schroeder.

"The evidence has, for now, taken a half-point rate increase off the table

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