Fed hikes interest rate by 25 basis points
Although expectations were expressed in the market that the Fed might skip this meeting due to the banking crisis in the USA, the general expectation in the market was that the Fed would increase the interest rate by 25 basis points.
In order to fight inflation, the Fed, which had increased by 75 basis points four times last year, slowed the rate of increase to 50 basis points in December and to 25 basis points in February.
Along with the Fed's decision, a dotted chart containing the projections of the authorities regarding the interest rate path was also published.
In December forecasts, the peak interest rate was 5.125 percent. At the beginning of March, Powell indicated that the interest rates could be set at higher levels than expected and gave an upward revision signal on the dot plot.