US interest rates held for fifth time in a row
US interest rates have been held for the fifth time in a row by the Federal Reserve. The decision, which was broadly expected, means rates
US interest rates have been held for the fifth time in a row by the Federal Reserve. The decision, which was broadly expected, means rates remain between 3.5% and 3.75%.
Higher interest rates make borrowing more expensive for people wanting to secure loans, mortgages and credit cards, but can lead to better returns on savings. Policymakers decided to
keep rates at the level they have been all year after inflation, the rate at which prices rise, slowed last month. Despite the fall, inflation remains above the
Fed's 2% target and uncertainty remains over the impact of the ongoing conflict in the Middle East on global oil prices and subsequently general consumer prices in the coming months.
The BriefWire