US Federal Reserve System raised its base rate again

US Federal Reserve System raised its base rate again
23:35 13-06-2018 | icon 16

Baku, Azerbaijan, June 13

The Federal Reserve System (FRS) of the United States raised the base interest rate by 0.25 percentage points on June 12-13, to 1.75-2% from 1.5-1.75% per annum, the regulator press release said.

In 2018, the rate was already raised in March, by 0.25 percentage points. In 2017, the regulator raised the rate three times: in December - to 1.25-1.5%, in June - to 1-1.25% and in March - to 0.75-1% per annum. Prior to this, rates of rate increase were slower - once in 2016 and 2015. In 2007-2008 the regulator gradually lowered the rate until it reached the minimum level of 0-0.25% in December 2008.

According to the FRS, the US labor market continues to strengthen and economic activity in the country is growing at a steady pace. The regulator noted an active growth in the number of jobs and a decrease in the unemployment rate in recent months.

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