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Added on the 04/08/2022 13:54:01 - Copyright : AFPTV - First images
The Federal Reserve raises the benchmark lending rate by a half percentage point in its ongoing effort to contain the highest inflation in four decades. SOUNDBITE
Fed Chair Jerome Powell announces a quarter-point raise in the US Federal Reserve's benchmark lending rate, "in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to two percent over time." SOUNDBITE
The Bank of England announces in a press conference it is hiking its key interest rate by 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent in recession-hit Britain. The latest rate hike mirrors aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades. SOUNDBITE
The Federal Reserve has raised the key US interest rate again and says more hikes are coming as it battles soaring prices -- an aggressive stance that has raised fears of a recession. It is the third consecutive increase of 0.75 percentage point by the Fed's policy-setting Federal Open Market Committee (FOMC), continuing the forceful action to tamp down inflation that has surged to the highest in 40 years. SOUNDBITE
Federal Reserve Chair Jerome Powell announces a quarter-point increase in the benchmark interest rate to bring rising inflation under control, the first rate hike since the start of the Covid-19 pandemic. SOUNDBITE