The US central bank on Wednesday raised its main interest rate for the tenth time in a row since March 2022, by a quarter of a percentage point. Many market participants are now waiting for a pause in these rate hikes, which raise the cost of credit for households and businesses.
The probability of a recession, sharper than initially expected, is widely anticipated by the markets. The banking crisis has provided unexpected support for the Fed's fight against inflation, the Fed said in a statement issued after the meeting of its monetary policy committee.