Posted 22 марта 18:19

Published 22 марта 18:19

Modified 22 марта 19:16

Updated 22 марта 19:16

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The Federal Reserve System raised the key rate to a record since 2006 of 4.75-5%

22 марта 2023, 18:19
The average rate forecast for the end of 2023 is 5.1%.

The Federal Reserve System of the United States raised the key rate by 0.25 percentage points, to 4.75-5%. 

"The Committee aims to achieve maximum employment and inflation at 2% in the long term. In support of these goals, the committee decided to raise the target range of the federal funds rate to 4.75-5.0%", - the Federal Reserve System said in a statement.

Currently, inflation in the country remains elevated. The Federal Reserve System considers it appropriate to tighten monetary policy. The forecast for inflation this year increased from 3.1% to 3.3%, and the forecast for 2024 remained at 2.5%.

In the period from March 8 to March 15 this year, banks in the United States borrowed a record $165 billion from the Fed. About $152.8 billion was issued as a short-term loan for up to 90 days. The previous record was set during the financial crisis of 2008 - about $111 billion.