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US Fed raises key interest rate to 1.0-1.25 pc

AFP  |  Washington 

The US Federal Reserve raised its benchmark by a quarter point to 1.0-1.25 pc today and signaled another increase remains likely this year, despite the recent spate of weak economic data.

In explaining the second of 2017, the Fed noted that "the labor market has continued to strengthen and that economic activity has been rising moderately so far this year," but acknowledged that the preferred measure will remain below the two percent target for some time.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 00:13 IST