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How does raising interest rates control inflation?U.S. Government Rates ; Effective rate, n.a., ; Target rate, , ; High, , Historical Prime Rate ; � 11/8/, % ; � 12/16/, % ; � 6/29/, % ; � 2/3/, % ; � 11/15/ Prime Rate by Country United States. The Bloomberg Prime Rate will change as soon as 13 out of the Top 25 banks, based on Total Assets, change their prime rate.
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