Jun 2006 Financial News

Fed raises key interest rate by a quarter point

Jun 29, 2006

The Federal Reserve today announced its decision to raise interest rates by a quarter point in a continuing effort to fight inflationary pressures.

Interest rates increased from 5.00 per cent to 5.25 per cent with commercial banks in the United States expected to quickly follow by increasing the prime rate to 8.25 per cent.


WISE Research Team
Thursday, June 29, 2006.

Source:http://biz.yahoo.com/ap/060629/fed_interest_rates.html?.v=11