US Federal Reserve indicates increase in interest rates as inflation rises

Fed chair Jerome Powell said the central bank would make a decision on the rate raise in its March meeting

The Federal Reserve is preparing to raise rates in March for the first time since the coronavirus pandemic struck the US as it attempts to curb rising prices.

After its latest two-day meeting the central bank announced that it would leave interest rates close to zero for now but signaled it was preparing to raise them at its next meeting.