US interest rate will remain unchanged at 22-year high, Federal Reserve says
by Dominic Rushe in New York from Economics | The Guardian on (#6EXYB)
Federal funds rate will remain at the the same level as the central bank announced in July, when it last raised rates
The Federal Reserve announced it was leaving its benchmark interest rate unchanged at a 22-year high on Wednesday but signaled it could hike rates again in its fight to bring down inflation.
After a two-day meeting the Fed announced its federal funds rate would remain in a range of 5.25 to 5.5% - the same level that the central bank announced in July, when it last raised rates.
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