What does the US Federal Reserve’s interest rate rise mean for UAE residents? – The National
What does the US Federal Reserve’s interest rate rise mean for UAE residents? – The National
RELATED: GCC central banks raise interest rates after US Federal Reserve move to curb inflation
Consumers will pay more to borrow money after the US Federal Reserve’s decision on Wednesday to raise interest rates by 50 basis points, its most aggressive move since May 2000 to rein in inflation, financial experts say.
The 50 basis point increase takes the Fed's key rate to a range of 0.75 per cent to 1 per cent, with the committee saying it will consider further large rate hikes.
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