US Federal Reserve hikes interest rate to 3.75-4% range; first time since 2023

 The US Federal Reserve’s hike decision comes on the back of persistent inflation and a broader increase in global borrowing costs. Inflation has remained stubbornly elevated, while borrowing costs around the world have moved higher. The US Federal Reserve’s hike decision comes on the back of persistent inflation and a broader increase in global borrowing costs. Inflation has remained stubbornly elevated, while borrowing costs around the world have moved higher.