13 Hrs
Source:
عين ليبيا
Dollar nears 7-week high after rate hike
The U.S. Federal Reserve raised interest rates by a quarter of a percentage point to a range between 3.75% and 4.00%, marking its first increase in over three years, in an effort to curb still-high inflation. This move came in response to inflationary pressures and the need to maintain price stability, with Fed Chair Kevin Worch emphasizing the importance of price stability while supporting economic growth. Following the decision, the dollar index approached its seven-week high, causing fluctuations in gold prices, which ultimately rose by 1.1% to $4,310.49 an ounce, influenced by the dollar's strength and U.S. bond yields. Markets are now focusing on the upcoming decisions of other central banks, particularly the Bank of England and the Bank of Japan, with expectations of potential rate hikes this year to combat inflation.
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