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US FED keeps interest rate stable, one rate hike possible in 2016

by ChemOrbis Editorial Team -
  • 22/09/2016 (13:52)
According to media reports, the US Federal Reserve (Fed) kept interest rates unchanged for another month at 0.25% to 0.50%, as they need to see clear signs of a strengthening US economy before raising rates. The bank also reduced their 2016 growth forecast to 1.8% from June’s forecast of 2%, citing the ongoing weak indicators of the economy.

The US Federal Reserve is expected to implement one rate hike by the end of 2016 and possibly two hikes in 2017.

Fed Chair Janet Yellen was quoted as saying that the case for an increase has strengthened but they decided to wait for further evidence including higher employment rates since the unemployment rate still stands at 4.9% and a rising inflation rate closer to their 2% target.
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