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Mar 15, 2017 11:35 PM IST | Source: Moneycontrol.com

US Fed raises rates by 25 bps on strong US jobs growth, firming inflation

A rate hike at the end of US Fed's two day policy meeting, which started on Tuesday, was widely expected and was already factored into the market.

US Fed raises rates by 25 bps on strong US jobs growth, firming inflation

The US Federal Reserve on Thursday raised key rates by 25 basis points, owing to strong US jobs growth and rising inflation. This is the second time it has raised rates in the last three months, and the third time since the 2008 financial crisis.

A rate hike at the end of US Fed's two day policy meeting, which started on Tuesday, was widely expected and was already factored into the market.

Investors are now keen to see whether the US Fed quickens its pace of monetary tightening as inflation moves along its expected target. The Fed had in December 2016, projected three hikes in 2017.

Updates to follow.
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