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Thursday, 15 June 2017 - 9:39
Highest US key interest rate since 2008
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The US Federal Reserve has said it would raise its key interest rate by 0.25%, the second rise this year.

The central bank voted to raise its key rate target to a range of 1% to 1.25%.

That's the highest level since 2008, when policymakers cut rates to encourage borrowing and spending after the financial crisis.

The bank also said it would begin cutting its bond holdings and other securities this year.

It cited continued US economic growth and job market strength as reasons for raising its benchmark interest rate.

 

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