The US Federal Reserve has raised interest rates for the first time in nine years. The decision comes after months of speculation and signals the Fed feels the US economy is strong enough to handle an increase. The American central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25% and 0.50% Rates in the US have been at near-zero since 2008. Financial markets had expected the rate hike, encouraged by recent US data showing job growth continuing at a strong pace. The move is likely to impact markets around the world, resulting in higher borrowing costs for some developing economies. ARN’s US correspondent Nick Harper reports from New York.
Listen
TECOM Group posts strong 2025 results as revenues and profits rise
Family businesses urged to rethink investment, philanthropy at Dubai summit
UAE-Vietnam CEPA enters into force
Indian rupee, stocks soar in relief rally after trade deal with US
UAE, DR Congo sign CEPA to strengthen economic partnership
