Inflation ( CCPI)-0.5% (Sep 2024)
GDP4.7% (2Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.32%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.37%/ 10.45%
4Y T-Bond Rate11.80% / 11.90%
USD/LKR292/293
Reserves $5.99Bn (Sep 2024)
Cum. Trade Deficit $2,550 Mn (June 2024 cumulative)
Cum. Fiscal DeficitLKR 599Bn (June 2024)

United States Federal Reserve raised interest rates, the biggest increase since 1994

InternationalJun 16, 2022
United States Federal Reserve raised interest rates, the biggest increase since 1994
The Federal Reserve raised its key interest rate by 0.75%, the largest bump since 1994 to fight the rising inflation that rose last month to a four-decade high of 8.6%. The Fed’s benchmark short-term rate, that facilitate consumer and business loans, will now be pegged to a range of 1.5% to 1.75%. Policymakers forecast a doubling of that range by year’s end. Mr Powell said another 75-basis point hike, or a 50-basis point move, was likely at the next meeting of policymakers.

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