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Business Matters: US interest rates hit 14-year high in inflation battle

US interest rates hit 14-year high in inflation battle

22/09/2022 GMT

BBC World Service - Business Matters, US interest rates hit 14-year high in inflation battle

Fed puts up interest rates for the third time

The Federal Reserve has put up interest rates by 0.75 percent.

The US central bank has pushed interest rates to the highest level in almost 15 years as it fights to rein in soaring prices in the world's biggest economy. The rate has gone up  by 0.75 percentage points for the third time in a row. We hear from Tom Sullivan from the U.S. Chamber of Commerce. He is the  Vice President of Small Business policy. Also on the programme, we talk to Randal Kroszner an economist at The University of Chicago Booth School of Business and former member of the Federal Reserve Board of Governors. Analysts predict  the Bank of Japan will maintain its ultra-low interest rates  despite pressure on the country’s currency. Yoko Ishikura is a Professor Emeritus, Hitotsubashi University and currently a member of the World Economic Forum’s Expert Network in Tokyo shares her thoughts. Let's turn to one country where a stronger dollar could be bad news for its economy and is about to make interest rate decisions of its own. And we go to Brazil to get reaction to The Central Bank of Brazil's decision  to keep its interest rate at 13.75 per cent. Maria Eloisa Capurro is a central bank reporter for Bloomberg in Brazil and gives us her thoughts  from the financial capital Sao Paolo.  (Picture: . Federal Chair Jerome Powell Picture credit: EPA)

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