Urgent: US Federal Reserve raises interest rates by 75 basis points

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The US Federal Reserve's Open Market Committee decided to raise the federal funds interest rate by 75 basis points to 1.75%, as part of the tightening policy approach that the US Central Bank is pursuing to confront inflation rates that reached their highest levels in 40 years.

This is the third rate hike by Washington in 3 months, as the first was last March, when the interest rate was raised 0.25% to 0.5% for the first time since 2018, to control inflation and last May the US Federal Reserve decided to raise the main interest rate by half percentage point, the largest increase in 22 years.

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