Fed raises key interest rate again
28/03/2006 - 21:04:39The US Federal Reserve today boosted a key interest rate to the highest level in five years as new Chairman Ben Bernanke followed the Alan Greenspan inflation-fighting formula.
The action, the 15th consecutive quarter-point move, left the federal funds rate at 4.75%, its highest level since April 2001.
Fed officials, who were holding their first interest rate meeting under Bernanke, left the door open for further rate increases although private economists believe only one or two more rate hikes are likely.
