Saturday, 25th March 2023
<To guardian.ng
Search

US Federal Reserve hikes interest rate to highest level since 2007

By France24
03 February 2023   |   1:13 pm
With the latest increase, the Fed's target interest rate is set in a range between 4.50% and 4.75% — its highest level since late 2007. The Fed has been rapidly hiking rates since March of 2022 in a bid to snuff out persistent inflation.

Related

20 Sep 2019
US Federal Reserve cuts interest rates for the second time in 2019
23 Sep 2019
Nobel laureate Michael Spence, professor of economics at NYU's Stern School of Business and senior adviser at General Atlantic, comments on Federal Reserve monetary policy during an interview with Bloomberg's Romaine Bostick and Guy Johnson on "Bloomberg Markets."
21 Dec 2019
Nigeria’s Monetary Policy Committee (MPC) will today announce the 6th and final monetary decision of the year. CEO of CFG Advisory, Tilewa Adebajo and Group Head of Corporate Banking at Coronation Merchant Bank, Ademola Adekoya both join CNBC Africa to discuss some issues that could influence the MPC’s decision.
6 Mar 2020
The Central Bank of Nigeria (CBN) and commercial banks in the country came under fire yesterday over disparities in deposit and lending rates obtainable in their offices. The upper legislative chamber lamented that interest rate on loans operated by commercial banks and approved by the CBN remained one of the highest in the world. Angered by the development, the Senate mandated its Committee on Financial Institutions to investigate and report back its findings to enable it take a definite position on the matter.
17 Sep 2020
The US stock market received a boost from the Federal Reserve's announcement, with near-zero rates pushing capital towards shares. What was once a choice, before the coronavirus outbreak, might now be a necessity.
17 Sep 2020
The US stock market received a boost from the Federal Reserve's announcement, with near-zero rates pushing capital towards shares. What was once a choice, before the coronavirus outbreak, might now be a necessity.
26 Jan 2021
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday. ⁣
12 Mar 2021
The European Central Bank has announced it is leaving its benchmark refinancing rate on hold at a historic low of 0%.
23 Sep 2021
The US Federal Reserve has opened the door to an interest rate hike and tapering of its emergency monetary stimulus. The central bank has warned, though, that the rising number of Covid-19 cases could impact economic growth. Christian Lawrence, Senior Markets Strategist at Rabobank New York, explains the impact on American households. Also on the show: Netflix seeks the golden ticket as it acquires the rights to late British author Roald Dahl's creations.
16 Dec 2021
The Federal Reserve is paving the way for possible interest rate hikes next year, in an effort to contain stubbornly high inflation. At the conclusion of a two-day policy meeting Wednesday, the central bank announced plans to phase out its large-scale bond-buying program faster than initially planned. The Fed started purchasing bonds during the pandemic as a way to keep borrowing costs across the economy low and to prevent any market disruptions.
30 Jan 2022
It's been a rollercoaster 24 hours on global stock markets, with huge swings on Wall Street and volatility hitting its highest level since October 2020. Investors are waiting for the decision from the US Federal Reserve on when it will start raising interest rates, but are also concerned about the rising tensions at Ukraine's border. Meanwhile, Bitcoin has slumped as low as $33,000, down over 50 percent from its peak in November. Our Business Editor Stephen Carroll has the details.
27 Jan 2022
The US Federal Reserve is setting the stage to raise interest rates in March, to combat elevated inflation. It's also taking further steps to phase out its emergency support of the US economy. Nancy Vanden Houten, Lead US Economist at Oxford Economics, says America's central bank has limited tools to fight the surge in prices. Also in the show - workers at France's EDF go on strike, over government efforts to limit electricity bills.