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29 May 2020


U.S. fed funds rate breaks above the Fed's target range

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A key interest rates the Federal Reserve aims to influence to control monetary policy broke above the top-end of the central bank’s target range for the first time since the global credit crisis more than a decade ago.

Axar.az reports citing Reuters that the effective or average interest rate on what banks charge each other to borrow reserves overnight rose to 2.30% on Tuesday, above the Fed’s current target range of 2.00%-2.25%, New York Federal Reserve data showed.

Date
2019.09.18 / 18:12
Author
Axar.az
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