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Federal Reserve headquarters in Washington
Photo: Jonathan Ernst / REUTERS
As expected, the US Federal Reserve has once again slowed the pace of interest rate hikes.
The federal funds rate rose 0.25 percentage point and is now in a range of 4.50 to 4.75 percent, the Fed announced after its recent interest rate meeting in Washington.
Analysts had largely expected this step.
It is the eighth rate hike in a row.
In December, the Fed raised interest rates by 0.50 points.
Previously, it had raised the key interest rate four times in a row by 0.75 percentage points.
At the beginning of March 2022, it was still in a range of 0.0 to 0.25 percent.
The Fed is trying to fight the still high inflation with its rate hikes.
In December, the inflation rate in the US fell to 6.5 percent.
The Fed is targeting a rate of just 2 percent.
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