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BREAKING: FOMC hikes rates by 50 basis points

8:01 PM 14 December 2022

FOMC announced its latest monetary policy decision today at 7:00 pm GMT and it turned out to be in-line with market expectations. The US central bank hiked Fed funds rate by 50 basis points, from 3.75-4.00% to 4.25-4.50% range. Median rate forecast for 2023 came in at 5.1%, up from 4.6% in September's projection. Median for 2024 was announced at 4.1%.

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