URGENT: Fed leaves key interest rate unchanged at 23-year high of 5.25-5.50%

World Economy

The U.S. Federal Reserve on Wednesday left its benchmark interest rate unchanged at a 23-year high of 5.25-5.50 percent as widely expected on the back of solid economic growth.

The Fed’s fourth consecutive decision to maintain the target range for the federal funds rate, which commercial banks charge each other for overnight loans, was announced after its first policy meeting of this year.

Kyodo News

Kyodo News