Business · 1 hour ago
US central bank expected to raise interest rates by a quarter on Wednesday
The Federal Reserve's expected rate hike is the first in over three years, following annual inflation reaching 3.4% in August. The central bank is expected to increase its benchmark rate by a quarter of a percentage point to tackle rising energy prices and inflation. The rate increase translates into increased expenses for home loans, vehicle financing, and outstanding credit card balances.
Reported by CNBC · How we write briefs