In a widely expected move, the Federal Reserve announced its decision to raise interest rates by a quarter point on Wednesday.
The central bank said its Federal Open Market Committee decided to raise the target range for the federal funds rate by 25 basis points to 2.25 percent to 2.50 percent.
The Fed's closely watched accompanying statement noted the labor market has continued to strengthen and that economic activity has been rising at a strong rate.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.