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Added on the 15/11/2016 12:39:15 - Copyright : Wochit
Employers added 271,000 jobs in October and the unemployment rate fell to 5 percent. The solid report increases the chance for a Fed rate hike. Shartia Brantley reports.
Fed Chair Janet Yellen re-inforced already growing expectations that the central bank would raise interest rates at its next meeting in December. Bobbi Rebell reports.
The Fed indicated it could finally raise interest rates in December, after keeping interest rates steady in October. Bobbi Rebell reports.
"A decision on a pause was not made today," Fed Chair Jerome Powell says during a press conference when asked whether the US Federal Reserve has made the decision to pause rate hikes. SOUNDBITE
US Federal Reserve Chair Jerome Powell announces a 0.25 percentage point increase in interest rates, but signals that the battle to rein in inflation is not yet over. "We continue to anticipate that ongoing increases will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time," Powell tells reporters at a news conference. SOUNDBITE
The European Central Bank has opted to lift interest rates by half a percentage point, according to ECB President Christine Lagarde. The rate represents a smaller hike than previously as the ECB has been lifting borrowing rates at an unprecedented pace in recent months to bring down record-high consumer prices after Russia's war in Ukraine sent energy and food costs surging, but Lagarde warns that "based on the substantial upward revision to the inflation outlook, we expect to raise them further." SOUNDBITE
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