US Federal Reserve unveils smaller rate hike

By Agence France-Presse

Feb 04, 2023 12:11 am

WASHINGTON, D.C.: America's Federal Reserve (Fed) slowed its pace of interest rate hikes Wednesday, tempering an aggressive campaign to rein in costs as inflation cools while signaling the battle is not yet over.

The US central bank announced a quarter-point hike to the benchmark lending rate at the end of its two-day policy meeting, taking the rate to a target range of 4.50 to 4.75 percent.

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