welcome to the ABC's Markets blog. I'm Sue Lannin.
The big news everyone has been been waiting for is the US central bank has raised interest rates overnight by 0.25 per cent, and says it expects "ongoing increases" in rates to battle inflation. Despite the pull back in the size of previous rate hikes, US stocks hit their lows after the decision, which saw the US official interest rate, the federal funds rate, increase to a range of 4.5 per cent to 4.75 per cent.P 500 is up 1 per cent, while the Nasdaq Composite jumped nearly 2 per cent.
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