The US Federal Reserve, America's central bank, on Wednesday hiked interest rates by 25 basis points to tame high inflation despite the banking crisis. The central bank has committed to bringing down the inflation to 2 per cent from currently over 6 per cent. It also assured that even though there is a banking crisis, there is enough in store to prevent a contagion. US Federal Reserve Raises Interest Rates by 25 Basis Points Amid Global Banking Crisis.

US Federal Reserve Hikes Interest Rate

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