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Monday March 21, 08:41
New rate hikes expected in US
(by Olivia Cohen)

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New rate hikes expected in US New rate hikes are widely expected in the US amid the Federal Reserve meeting on Tuesday. The US interest rate may be raised to 2.75%, Greenspan and other Fed officials hinted.

The seventh consecutive meeting that will take place Tuesday and show to what extend Alan Greenspan is ready to drop his «measured-pace» policy.

If hiked, it will be the highest rate since September 11, when interest rate climbed to 3.5%. The Fed slashed rates twice in three weeks after the September attacks to help the economy to recover.

Some analysts predict that Tuesday’s possible hike may lead to another rise by a full percentage point this year.

"You have to re-arm the Federal Reserve if it needs to cut rates in case of some shock," Putnam’s David Kelly says.

Greenspan’s measured pace means slow rate hiking avoiding shocks for the slowly recovering economy.
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03 May 2005 02:20 PM The Federal Open Market Committee increased its main interest rates by 0.25% to 3%
 


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