The US Federal Reserve began a two-day meeting on Tuesday to decide whether to raise its benchmark lending rate to the highest level since 2001 in order to tame above-target inflation.
The two-day policy meeting began at 10am Washington time, the Fed said in a statement. The interest rate decision will be announced at 2pm on Wednesday.long-term target of two per centFutures traders assign a probability of close to 99 per cent that the Fed will lift its base rate by 25 basis points on Wednesday, according to CME Group.
With the increase generally factored in by financial markets, attention has focused on how far and how fast monetary tightening might go.raise rates twice more this yearRecent positive economic news has increased the chances of a so-called"soft landing", in which the Fed succeeds in bringing down inflation by raising interest rates while avoiding a recession and a surge in unemployment.
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