Random Pagan Verse:
If anyone in the Craft needs a house or land and there is no one willing to sell to them, you may use the Art to incline an owners mind to be willing to sell, provided that the spell does not harm the owner or the property and that the full value is paid without
haggling. Never bargain or cheapen anything while living by the Art.

Author Topic: US Federal Reserves raises interest rates for first time in nearly a decade  (Read 227 times)

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The US Federal Reserve (Fed) has raised interest rates for the first time in almost a decade by a quarter of a percentage point. The historic and unanimous decision by the Fed's Open Market Committee (FOMC) on 16 December follows a two-day meeting in Washington.

The first rate hike ? by 0.25% to 0.5% ? since June 2006 by the Fed closes the chapter on an unprecedented era of easy monetary policy. The US central bank sets the base cost of borrowing and as a major determinant of the global economy, the move will have ramifications worldwide. In September, the World Bank warned that a rate rise could adversely affect emerging economies caused by disruption to capital flows.



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