WASHINGTON, United States, April 9, 2026 (BSS/AFP) - Many US central bank policymakers cited the possible need for interest rate hikes to counter the risk of sustained inflation from high oil prices, minutes of their recent meeting showed Wednesday. The US Federal Reserve has been battling to bring inflation down to its long-term two percent target since the pandemic. In March, the Fed chose to extend a pause on interest rate cuts -- after three reductions in late 2025 -- and raised its inflation forecast. The US-Israeli war on Iran, launched on February 28, has engulfed the region in violence, with Tehran sending oil prices skyrocketing by virtually closing the vital Strait of Hormuz. The US Fed has a dual mandate of keeping inflation to its long-term target while ensuring maximum employment.

Source: Bangladesh Sangbad Sangstha April 09, 2026 03:32 UTC