A move that was expected. The current cost of borrowing now sits at five to 5. 25 , the highest in 16 years. But is the fed finally done with rate hikes . The bbc s Samira Hussain reports from new york. Inflation remains stubbornly high to try and get the cost of living back down to more normal levels. The federal reserve, americas central bank, has raised Interest Rates ten times in a little over a year. And now it seems it may be ready to perhaps take a pause. The committee will take into account the cumulative tightening of Monetary Policy, the lags with which Monetary Policy affects Economic Activity and inflation and economic and financial developments. We will make that determination. Meeting by meeting. The rate rises have slowed Economic Growth in the United States by making it more expensive to borrow money. And inflation is starting to come down. But there have been some unexpected Knock On Effects of the rate hikes. They played a part in the Banking Crisis where three banks
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