US Fed plans raising the benchmark interest rate several times through 2019
Date: 12:57, 19-01-2017.
Almaty. January 19. Silkroadnews – The US Federal Reserve System (FRS) plans to raise the benchmark interest rate several times before the end of 2019, TASS reports.
The statement was made by the Federal Reserve Chair Janet Yellen. She refused to specify exactly when it will occur or how high rate will rise though and said it will depend on the US economy’s future performance.
As J. Yellen explained, the Fed intends to gradually increase the rate, which is now at the level of 0.5-0.75%, for “a few times a year” until it reaches 3% by the end of 2019.
Earlier, on 14 December, 2016, the Federal Open Money Committee (FOMC) of the US FRS raised its rate to 0.5-0.75%.
