Today's Edition
Washington (AFP)
The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled it expects to make three cuts next year.
The Fed's decision to keep its key lending rate between 5.25 percent and 5.50 percent lets policymakers determine "the extent of any additional policy firming that may be appropriate," the US central bank said in a statement.
The widely expected decision keeps interest rates high as the Fed continues its fight to slow inflation towards its long-term target of two percent amid a recent flurry of positive economic news.
The Fed, which has a dual mandate to tackle both inflation and unemployment, is the first major central bank to unveil its interest rate decision this week.
The European Central Bank (ECB) and the Bank of England will publish their own rate decisions on Thursday, and are also expected to hold their key lending rates steady in the face of slowing inflation.
