News Snapshot:
Federal Reserve chief Jerome Powell announced an interest rate rise of 0.25% – bringing the US base rate target range to 5.25%. Photo: Getty. European stocks and the FTSE 100 opened lower as investors digested the impact of the latest US Federal Reserve interest rates hike – and now expect the European Central Bank to follow suit. The Fed said it would raise the federal funds rate, the rate at which commercial banks borrow and lend reserves, by 25 basis points to a target range of 5% to 5.25%, which was widely expected. It marks the 10th increase in borrowing...
