US raises rates again

INTEREST rates have been hiked again in the US as its economy is boosted by tax cuts.

The Federal Reserve last night put rates up by 0.25pc, to a range between 1.5pc and 1.75pc. Markets took the change in their stride as it had been widely predicted, with the pound hovering just above $1.41. Fed officials suggested they still expect three interest rate hikes this year and predict they will go higher than previously forecast next year, with further rises in 2020.

British analysts predict a May rise, with the Bank of England expected to push rates up 0.25pc, to 0.75pc.