Live: US policymakers expect Fed to raise rates again this year
The US Federal Reserve has raised interest rates by 25 basis points and policymakers expect one more hike before the end of the year.
Markets are pricing an 88% chance of Australia's Reserve Bank raising interest rates in September, following the US Federal Reserve's unanimous decision to lift rates by 25 basis points overnight. US share markets dropped in response, while the local share market opened higher. The US Federal Reserve has increased rates to 4.00%, with at least one more hike expected this year, according to the dot plot showing 16 of 18 officials.
The Australian share market has shown resilience despite concerns of a decline. Some experts believe the Fed's decision may pressure the RBA to raise rates at its September meeting, though others remain skeptical.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
