US Fed Raised Rates, Hints Hike in 2018

The US Federal Reserve open market committee announced to raise the federal funds rate target range by 25 basis points to 1.25-1.50% after meeting today, it meanwhile hinted that it may raise interest rates gradually in 2018.

"The committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate" the Federal Reserve committee said.

The Federal Reserve’s also raised its forecast for GDP growth in 2018. US GDP growth expectations for 2018 were raised to 2.5% from an earlier forecast of 2.1% in September.

-- APMR News