US Fed Keeps Interest Rates Unchanged

The US Federal Reserve (central bank) Wednesday kept the interest rate unchanged in the range of 5.25 percent to 5.5 percent.

At the conclusion of their two-day meetings, US Federal Reserve officials revealed their expectations to reduce the interest rate only once during the current year, after indicating the possibility of reducing it three times in estimates last March, amid the inflation rate approaching the target of about 2. percent slower than expected.

US monetary policymakers expect interest rates to average 4.1 percent by the end of next year, suggesting four additional one-time quarter-point cuts in 2025.

Source: Qatar News Agency