borrowing rate

The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in an effort to bring down the four-decade high inflation that took hold after the economy roared back from the COVID-19 recession of 2020.

The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in an effort to bring down the four-decade high inflation that took hold after the economy roared back from the COVID-19 recession of 2020.

But in the US, inflation has slowed more rapidly and separate forecasts by members of the Fed's rate-setting panel showed they expected the key borrowing rate to fall from the current range of 5.25%-5.5% to 4.5%-4.75% next year.

Slightly more than two-thirds of the economists, or 16 of 23, in the Nov. 7-13 Reuters poll expected BSP to keep its key overnight borrowing rate at 6.50% on Nov. 16.

The bank, though, is not expected to raise interest rates at its next policy meeting in early November, opting instead to keep its main borrowing rate unchanged at the 15-year high of 5.25%.