Fed hikes 25bp to 3.75–4.00% on Sept. 16 and signals at least one more increase this year
On 16 September 2026 the Federal Open Market Committee raised the target federal funds range by 25 basis points to 3.75–4.00% and the Feds dot-plot showed most officials expect at least one more hike before year-end, shifting the policy rate path and operational rates effective Sept. 17.
The desk brief
On 16 September 2026 the Federal Open Market Committee raised the target federal funds range by 25 basis points to 3.75–4.00% and the Feds dot-plot showed most officials expect at least one more hike before year-end, shifting the policy rate path and operational rates effective Sept. 17.
A Fed hike and a hawkish dot-plot typically lifts US Treasury yields and the dollar, raising global funding costs and discount rates for long-duration USD sovereigns. Conditional on wider US term yields and USD strength, highly duration-sensitive African dollar bonds—notably Ghana and Zambia USD Eurobonds—face higher rollover and refinancing costs and mark-to-market price pressure.
Next FOMC meeting and Summary of Economic Projections in November 2026.
Sources & verification
Verified briefSupported by 3 independent publishers.
- Fed approves interest rate hike, signals one more to come this yearcnbc.comSource published (opens in a new tab)
- Implementation Note issued September 16, 2026federalreserve.gov (opens in a new tab)
- FOMC Raises Fed Funds Rate Range by 25 Basis Points in 12-0 Voteyahoo.comSource published (opens in a new tab)
Public references supporting this brief.