Over the past two years, the Fed’s rate has been in the range of 0-0.25% per annum.

The U.S. Federal Reserve System (Fed), acting as the country’s central bank, has raised the base interest rate by 25 basis points for the first time since 2018, to 0.25-0.5% per annum.

The previous Fed rate hike occurred in December 2018, since then the base interest rate has only been declining. Over the past two years, the Fed’s rate has been in the range of 0-0.25% per annum.