Washington [US], May 4: The US Federal Reserve, in its meeting held today, raised interest rates by 25 basis points (bp). US Federal Reserve Hikes Interest Rate by Quarter-Point to Curb Inflation Amid Banking Turmoil.

The decision sets the US Central Bank's benchmark overnight interest rate to the 5.00 per cent - 5.25 per cent range, the tenth consecutive increase since March 2022. (ANI/WAM)

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