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US Fed keeps rates stable, hints at possible hike in Sept

by ChemOrbis Editorial Team -
  • 28/07/2016 (15:31)
According to media reports, the US Federal Reserve (Fed) kept its main interest rates stable for another month at 0.25% to 0.50%. The bank cited uncertainty over inflation, growth, and the global economy as the main reasons behind their decision. The bank had raised rates by 25 basis points in December 2015 for the first time in 7 years.

However, the Fed reported that near-term risks on economic growth have diminished with an improving labor market and higher household spending and retail sales. In the midst of the improving economic environment, the bank signaled that it may raise rates in September.

In June, the Fed reported that they need to see clear signs of a strengthening recovery in the economy before lifting rates.
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