US Fed holds interest rates, could raise later ...Middle East

Washington: The US Federal Reserve on Wednesday left interest rates unchanged for the second consecutive time in its two-year fight against inflation but left room for a hike if needed later in the year. The rates will hold in the 5.25 per cent and 5.5 per cent range as a result of hikes that started in March 2022 in an attempt to bring inflation down to below the acceptable rate of 2 per cent. Price rate increases have decelerated to 3.4 per cent as of last September, coming down from the peak of 7 per cent. In a note released after its top decision-making body, the Fed said the economy was growing at a “strong pace” compared to the “solid pace” as it described it after its September meeti

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Last updated : 02 Nov 2023 clock 04:04 AM

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US Fed holds interest rates, could raise later ...Middle East

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