US Fed Freezes Key Interest Rate

Write : 2016-07-28 09:02:18 Update : 2016-07-28 09:09:56

US Fed Freezes Key Interest Rate

The U.S. Federal Reserve has decided to keep its key interest rate unchanged reflecting lingering concerns about downward pressure on the world’s largest economy.  

The Fed held a Federal Open Market Committee(FOMC) meeting on Wednesday and decided to maintain the benchmark rate at zero-point-25 to zero-point-five percent.

But, the Fed left open the door to raising the key rate within this year, saying the U.S. economy is getting stronger, and near-term risks to the economic outlook have diminished.

However, the Fed has held back from raising rates while inflation remains under its two percent target. The measurement used by the central bank lists current U.S. inflation at 1.6 percent and it has hovered below the Fed's target since 2012.

Business media, MarketWatch, said the central bank's optimist comment was a “stronger hint” about a possible rate hike than most experts were expecting.

When the hike will be made, however, remains uncertain, but investors expect the rise to come twice this year, sometime before and after the Fed's November meeting, which comes a week before the U.S. presidential election.

The next three Fed meetings for the year are in September, November and December. 

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