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Fed lifts rates and may move again

US economy - Fed to watch figures
US economy - Fed to watch figures

The US Federal Reserve has lifted its main interest rate by a quarter-point to 5.25%, its 17th  successive increase.

The Fed's Federal Open Market Committee left the door open to further rate increases, saying inflation remains a risk.

'Although the moderation in the growth of aggregate demand should help to limit inflation pressures over time, the committee  judges that some inflation risks remain,' it said in a statement.

It added that the extent and timing of any further rate moves would depend on future economic data on inflation and economic growth.