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Fed hikes rates to 5%
- Thursday, May 11 - 2006 at 14:09
The US Federal Reserve has raised interest rates by a quarter of a point to 5%, the 16th-successive rise and the second under chairman Ben Bernanke. Interest rates are now at a five-year high, and the Fed said in a statement that 'further policy firming may yet be needed'.
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James McInerney, News EditorThursday, May 11 - 2006 at 14:09 UAE local time (GMT+4)
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