Newsinc24 Team 
The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of recent bank failures. The Federal Reserve increased its key rate by 0.25 percentage points and said more action could be appropriate as consumer prices continue to climb.The Fed has been raising borrowing costs to try to slow the economy and ease pressures pushing up prices. But sharp rate rises have led to strains in the banking system. Two US banks - Silicon Valley Bank and Signature Bank collapsed this month, buckling in part due to problems caused by higher interest rates. But authorities around the world have said they do not think the failures threaten widespread financial stability and need not distract from efforts to bring inflation under control. As per agency news, the Federal Reserve signals it might pause interest rate hikes amid recent turmoil in financial markets spurred by the collapse of two US banks.
Meanwhile, the Central Bank of Oman (CB) has raised the interest rate on repurchase operations for local banks to the same extent as the increase set by the US Federal Reserve.
The Central Bank of Oman has raised the interest rate on repurchase operations for local banks to the same extent as the increase set by the US Federal Reserve, which is 25 basis points to 50.5 percent@CentralBank_OM @OMAN_MOF
— Oman Observer (@OmanObserver) March 23, 2023
#Oman #OmanObserverhttps://t.co/PUwCT5c9MS
Last time, the CBO raised the interest rate in Federal Reseve was in February.
.jpg)
Related Items
US Fed keeps interest rates steady as inflation uncertainty rises
RBI MPC maintains repo rate at 5.25% amid global risks
US Fed holds key interest rate steady at 3.5%–3.75%