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Breaking: Fed hikes interest rate by 75 bps as expected

Mohamed Abdelhamid 21 September, 2022 10:01 pm Breaking News, Forex Market, Market Update

The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3-3.25%.

The Federal Reserve was widely expected to stick to the baseline market expectation and raise rates by 75 basis points and refrain from a bigger move for fear of inciting a recession.

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