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Digital Subscriptions > > Fed signals new policy phase with first rate hike of the year

Fed signals new policy phase with first rate hike of the year

• US central bank anticipates a further two rate hikes during this year

• Commentators predict there could be up to four hikes during the course of 2018

Gary Shepherd

Editor

What’s the story? In its March meeting, the US Federal Reserve raised the federal funds target rate from 0.5-0.75% to 0.75-1%, with only one voting member of the Federal Open Market Committee (FOMC) dissenting. The so-called ‘dot plot’ projection is for three hikes in rates in 2017.

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