The US Federal Reserve raised interest rates by a quarter percentage point and signaled hikes at all six remaining meetings this year, launching an aggressive campaign to tackle the fastest inflation in four decades even as risks to economic growth mount.

The hike is likely the first of several to come this year, as the Fed said it “anticipates that ongoing increases in the target range will be appropriate.

In The Straits Times’ The Big Story, Assistant video Editor Olivia Quay spoke to Selena Ling, chief economist and head of treasury research and strategy at OCBC Bank to find out how this move might have an impact on Singapore’s interest rates.