US Fed expected to hike interest rates as Trump tax cut looms

Washington

THE US central bank is set to raise the benchmark interest rate this week, looking to get ahead of price increases that, though absent so far, are still expected to materialise.

It would be the third rate hike this year, and is overwhelmingly expected by economists and traders, and hinted at by policymakers, even though official data show inflation remains well below the Federal Reserve's two per cent target.