Fed raised policy range 25bp to 3.75%–4.00% on Sept 16, 2026

On September 16, 2026 the Federal Reserve raised the target federal funds range by 25 basis points to 3.75%–4.00% following its September 15–16 meeting, a meeting that had been held behind closed doors on September 15. The action resets the short-term U.S. policy baseline and associated dollar funding costs.

A Fed policy-rate increase raises the baseline for U.S. short-term rates and tends to push U.S. Treasury yields and dollar funding costs higher. That can pass through to USD-denominated Eurobond yields for sovereigns such as Ghana and Zambia and raise external-currency financing and import costs for Kenya and Egypt, conditional on global risk sentiment and local balance-sheet positions.

Next scheduled FOMC meeting: October 27–28, 2026; September meeting minutes expected ~3 weeks after the decision.