Federal Reserve hikes interest rates by 25 basis points

The US Federal Reserve announced in a decision on Wednesday raising the interest rates by 25 basis points to 4.75% from 4.50%.

The Fed’s slowdown in the rate hike came in light of the emergence of signs of slowing inflationary pressures in the US economy.

It should be noted that the Fed raised interest rates by 75 basis points in each of the four meetings preceding the last meeting, which witnessed a slowdown in the rate of increase to 50 basis points.