US key interest rate highest since 2008

US key interest rate highest since 2008

  • 14 June 2017
  • From the section Business

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The US Federal Reserve has said it would raise its key interest rate by 0.25%, the second rise this year.

The central bank voted to raise its key rate target to a range of 1% to 1.25%.

That’s the highest level since 2008, when policymakers slashed rates to encourage borrowing and spending after the financial crisis.

The rate rise was widely anticipated after a low unemployment rate.