EDITING |
The FED, the central bank of the US, raises rates to their highest level since 2008, to 0.75, the fifth increase so far this year. Values are between 3% and 3.25%. The increase in rates has also caused declines in the stock market.
They also expect that rates will continue to rise and that in 2023 they will be around 4.4 - 4.9%.
The escalation of rates is due to the estimate that the peak of inflation has not yet been reached, with its value at 8.3% in August, higher than predicted by its economists.
The FED explains in its statement that the effects of the war are damaging the global economic system and causing inflation to rise.
The ECB, for its part, has said that inflation will remain too high so they will have to continue raising rates to face the global economic crisis.
