Reference interest rates in the US are between 0.75% and 1%

The US central bank announced this Wednesday an increase in its interest rates by 50 basis points, the first such increase since 2000, to try to control inflation.

In the statement released after a two-day meeting, the Federal Reserve (Fed) indicated that further increases are warranted in the future.

Reference interest rates in the United States are now between 0.75% and 1%, the statement said.

The Fed also indicated that it will start to reduce its balance sheet from June 1st, another measure of tightening US monetary policy to stop the escalation of inflation.

The central bank has warned that the war in Ukraine and the lockdowns in China will exacerbate inflation and logistical problems.

The rate hike was unanimously voted on by the monetary policy committee.

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