<p>The US central bank opened its two-day policy meeting on Tuesday, preparing for another salvo in the war on rising inflation in the form of a <a href="https://www.deccanherald.com/business/economy-business/federal-reserve-set-for-another-big-rate-hike-with-economy-on-knifes-edge-1129513.html" target="_blank">big interest rate increase</a>.</p>.<p>The policy-setting Federal Open Market Committee is expected to hike the benchmark borrowing rate on Wednesday by another three-quarters of a percentage point.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/gold-gains-on-softer-dollar-with-focus-on-fed-meeting-1130162.html" target="_blank">Gold gains on softer dollar with focus on Fed meeting</a></strong></p>.<p>It would be the fourth rate hike this year, in the effort to stamp out inflation, after annual consumer prices soared 9.1 per cent in June.</p>
<p>The US central bank opened its two-day policy meeting on Tuesday, preparing for another salvo in the war on rising inflation in the form of a <a href="https://www.deccanherald.com/business/economy-business/federal-reserve-set-for-another-big-rate-hike-with-economy-on-knifes-edge-1129513.html" target="_blank">big interest rate increase</a>.</p>.<p>The policy-setting Federal Open Market Committee is expected to hike the benchmark borrowing rate on Wednesday by another three-quarters of a percentage point.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/gold-gains-on-softer-dollar-with-focus-on-fed-meeting-1130162.html" target="_blank">Gold gains on softer dollar with focus on Fed meeting</a></strong></p>.<p>It would be the fourth rate hike this year, in the effort to stamp out inflation, after annual consumer prices soared 9.1 per cent in June.</p>