The Federal Reserve held interest rates steady on Wednesday, as expected, opting to delay any changes to borrowing costs until after next week’s US midterm elections and awaiting further data on the path of inflation.
In a 10-2 decision, the US central bank said it would maintain its benchmark interest rate within the current 3.75-4.00 per cent range while acknowledging that inflation “remains elevated,” upgrading its assessment of the economy, and hinting that further rate hikes may be coming depending on the performance of inflation.
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