Breaking: US Fed Hikes Interest Rate By 25 bps, Says Hike Appropriate

The Federal Open Market Committee (FOMC) announced a 0.25% interest rate hike in the February meeting. This came amid a market wide expectation of 25 bps rise, which marked a slowdown in rate hike at the back of a series of 75 bps rise in previous months. The announcement came at a time when the Fed officials are focused on reducing the inflation to 2% target. This means tightening screws for liquidity in the economy was on top priority.