Stocks drifted to a mixed finish on Wall Street on Thursday as central banks around the world keep cranking interest rates higher in their fight against inflation. AdvertisementThe Bank of England hiked its main interest rate by a bigger margin than expected to a 15-year high. The Fed held interest rates steady at its last meeting after raising rates aggressively throughout 2022 and into 2023 to tame painfully high inflation. Central banks worldwide have been raising interest rates to make borrowing more difficult and slow economic growth in order to stifle inflation. High interest rates, though, have already slowed manufacturing and other parts of the U.S. economy.

Source: Los Angeles Times June 23, 2023 10:33 UTC