Breaking: Fed hikes policy rate by 50 bps to 4.25-4.5% as expected

The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 50 basis points to the range of 4.25-4.5% following the December monetary policy meeting. This decision came in line with the market expectation. 

Follow our live coverage of the Fed's policy announcements and the market reaction.

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