American Interest Rate Rises Another Quarter Percent To 5%

23rd March 2023

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-3/4 to 5 percent.

On Thursday 23 March the Bank of England will announce the rate for the UK.

The European Central Bank already announced a rate rise.