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The US Federal Reserve System on Wednesday raised its benchmark interest rate by 0.75% for the second straight time, matching the largest increase since 1994. The move will raise its key rate to a range of 2.25% to 2.5%, its highest level since 2018. This comes after annual inflation in US hit a new four-decade high of 9.1% in June.
short by Anmol Sharma / 12:00 am on 28 Jul
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