US Central Bank Raises Interest Rates to Fight Rising Prices

The US Federal Reserve has raised interest rates for the first time since 2023 to bring down persistent inflation that is weighing on the economy. Officials announced the rate hike to check price rises, and warned that more tightening of monetary policy could follow. This move defies demands made by Donald Trump. News outlets including the Australian Broadcasting Corporation, SBS, the Australian Financial Review, Al Jazeera, and the BBC are following the live developments.