US Fed keeps key rates unchanged, signals end of rate hikes

The US central bank said Federal Open Market Committee (FOMC) members voted unanimously to hold its policy rate in a range between 2.25 per cent and 2.5 per cent.

The United States' Federal Reserve has kept the key lending rates unchanged. In a statement on Wednesday, the central bank said the Federal Open Market Committee (FOMC) members voted unanimously to hold its policy rate in a range between 2.25 per cent and 2.5 per cent.
 
In a statement, US Fed said the FOMC continues to view sustained expansion of economic activity, strong labour market conditions, and inflation near the 2 per cent objective as the most likely outcomes.
 
However, future moves will be done patiently and with an eye toward how economic conditions unfold, it said.
 
"In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes," said the statement.
 
"In this environment, we believe we can best support the economy by being patient in evaluating the outlook before making any future adjustment to policy," said Fed chief Jerome Powell at a press conference.
 
Powell said he is hopeful that the American economy will continue to grow at a solid pace in 2019, although likely slower than the very strong pace of 2018. "We believe that our current policy stance is appropriate at this time."
 
Source: Media reports, US Fed 

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