The Latest Breaking News from Interest Rates

The US Federal Reserve has raised interest rates by 0.75% – the most aggressive hike since 1994 – in an effort to curb soaring inflation. America's central bank is trying to tighten monetary policy, while fostering growth in the economy and labour markets. But will the move be effective? Christian…

Australian stocks lose their gains despite a rise on Wall Street after the US Federal Reserve increased official interest rates — from between 0.75pc and 1pc to between 1.5pc and 1.75pc — to curb surging inflation, with the move seeing US stocks rally. And the national unemployment rate stayed steady…

Governments usually change after a recession, not before one, so the job is a nice one – to manage the recovery. But this time is different.

Consumers are already paying more for gas, groceries and everyday items, but they should expect to fork over more in other parts of their lives after Wednesday’s interest rate increase.

U.S. stocks traded higher toward the end of trading, after the Federal Reserve raised interest rates by 0.75%.

Wall Street braces for rises in borrowing costs in July and September as 8.6% inflation spurs on central bank

The Federal Reserve raised interest rates by 75 basis points — the biggest increase since 1994 — and Chair Jerome Powell said officials could move by that much again next month or make a smaller half-point increase to get inflation under control.

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.

Americans will feel the effects across their financial lives, from their savings accounts to debt repayments.