US Federal Reserve keeps key interest rate unchanged

September 22, 2016 01:27

The United States Federal Reserve left interest rates unchanged on Wednesday but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further.

The Fed said US economic activity had picked up and job gains were "solid" in recent months.

"The case for an increase in the federal funds rate has strengthened," the US central bank said in a statement following a two-day policy meeting.

It added that its rate-setting committee had decided against raising rates "for the time being," until there was more evidence of progress toward its employment and inflation objectives.

The Fed has held its target rate for overnight lending between banks in a range of 0.25 percent to 0.50 percent since December, when it raised borrowing costs for the first time in nearly a decade.

« Back to LIVE

TOP STORIES

India No. 1 in ODIs, T20Is; Australia top Test rankings

India may have lost the ODI World Cup final to Australia but have increased their lead over them from three to six points, leading the table with 122 points.

Post-mortem confirms Salman home shooting accused died by hanging: Police

He had allegedly hanged himself with a bed sheet in the toilet of the lock-up, as per the police.

Proof Why Ananya-Malaika Are So Stylish

Film folk raised Mumbai's summer temperatures even higher when they walked the red carpet at the second edition of the Bollywood Hungama's Style Icons Summit and Awards 2024 on May 2.

It's a bit daunting: Jacks on being RCB's next ABD

Royal Challengers Bengaluru all-rounder Will Jacks opened up on filling the shoes of legendary South African batter AB de Villiers as franchise's premier overseas batter, saying that the task is "daunting".

RR Vs SRH: Who Took The Best Catch? Vote!

It was a game which would be more remembered for the dropped catches more than the ones that were held.