US Federal Reserve holds key interest rate

Thu, Sep 21 2017, 05:50 PM

The US Federal Reserve on Wednesday held the ‘federal funds rate’, the central bank’s benchmark interest rate, at 1.16%. At the same time, it signaled a rate hike by the year-end, as projections released after its two-day policy meeting showed 11 of 16 officials pegging the “appropriate” level to be between 1.25% and 1.50% by December 2017.