American Federal Reserve Bank increases interest rate after a gap of 10 years
Posted on: 17/Dec/2015 5:07:56 PM
American Federal Reserve Bank has increased the interest ratio for the first time in the span of last 10 years.
The head of American Federal reserve Bank, Jane Allen, announced the increase in interest ratio by 0.25 percent which remained unchanged since the year 2006.
This decision by American Federal reserve Bank to increase the interest ratio is expected to have far-reaching effects in the world economic scenario.
The interest ratio of American Bank has remained near zero since the year 2009.
As the job prospects have increased over the last few weeks, there was an expectation about the interest rates being raised. As compared with last 7 years, the unemployment situation in USA has come down to as low as 5 percent. Following this, the interest rate has bee increased after 10 years.
