US central bank expected to raise interest rates for first time since 2023
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The US central bank is expected to raise interest rates for the first time in more than three years today – here’s why you should care
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We’ll hear the decision at 14:00 EDT (18:00 GMT) and there will be a press conference afterwards – you’ll be able to watch this live at the top of the page
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What could the new rate be? Our business reporter explains
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The Federal Reserve has been seeking to curb rising prices as the Iran war pushes up global oil prices, which have hit American consumers
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What are interest rates? They set the cost of borrowing money, and influence mortgages, loans and savings but can also boost returns on savings. Central banks often hike up rates when they think inflation is too high
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President Donald Trump has consistently opposed hiking interest rates, arguing lower rates are better for boosting the economy
US central bank about to announce latest interest rate decision