Thursday, March 22, 2007

Forex News: 22.03.2007 Fed holds rates steady

The Federal Reserve held benchmark interest rates steady at 5.25 percent for a sixth straight meeting, while maintaining a warning on the risk of inflation.

The widely expected decision by the central bank's Federal Open Market Committee keeps the overnight federal funds rate target at the level it hit in June after 17 straight quarter-percentage point increases.

In a statement outlining its decision, the Fed indicated it continues to focus on inflation risks and stands ready to raise borrowing costs further if needed.


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