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The US central bank, the Federal Reserve (Fed), raised the benchmark interest rate by 0.25 percentage points (p) to an annual 3.75-4.00%. It also hinted at the possibility of further rate hikes within the year.
Furthermore, it projected that the real growth rate of the US Gross Domestic Product (GDP) (real economic growth rate) would be 2.3% this year and 2.4% next year. These figures are 0.1 percentage points higher than the projections made last June, indicating that the growth momentum is more robust than previously expected.
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