WASHINGTON, March 22. /TASS/. The US Federal Reserve System acting as the national central bank has increased the base interest rate by 75 basis points to the level of 4.75-5%, the Federal Open Market Committee said Wednesday after the meeting.

"The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-3/4 to 5%," FOMC said in the statement.

"The Committee will closely monitor incoming information and assess the implications for monetary policy," FOMC added.

The rate reached its highest value since 2006.