Latest Global Business News

U.S. Federal Reserve keeps benchmark interest rates unchanged

 
Turning overseas,... the U.S. Federal Reserve kept its rates steady,... but policymakers say they're monitoring inflation... which remains lower than they'd like.
 
The Fed added that it's also edging closer to gradually reducing its bond holdings,... given that the U.S. economy is progressing as anticipated.
 
Kim Hyo-sun reports. There were no big surprises on Wednesday as the Federal Reserve announced it was leaving interest rates unchanged, a move widely projected by market watchers.
 
The Fed said it was holding its benchmark rate in a target range of one to one-point-two-five percent.
The statement, released following a two-day meeting,... indicated the U.S. economy was growing moderately with solid job gains.
 
fed holds rates
 
The Fed's rate-setting committee also said it will begin to cut its massive bond portfolio of four-and-a-half trillion dollars relatively soon.
Watchers foresee that will be initiated in September or October,... following the Fed's plan announced last month
 
In June,... the Fed raised the interest rate by a quarter of a percentage point.
While the Fed has hinted at another rate hike within this year,... analysts forecast it's unlikely to happen at its next meeting in September... unless inflation picks up.

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