Currency
by ForexNewsNow Team on December 15th, 2010

US Federal Reserve keeps interest rate at 0.25%

NEW YORK (Forex News Now) – The US Federal Reserve made no changes to the Federal Funds Rate when it convened Tuesday in one of the day’s major realtime forex news events.

In a move that had minimal immediate impact on currency market trading, the central bank decided to keep the interest rate at 0.25%, the mark at which it has been since it lowered the rate from 1.00% in December 2008.

Analysts had forecast that the rate would remain unchanged, major online FX trading news outlets reported.

The Federal Open Market Committee said in a statement released simultaneously that information it has received in the past month shows the economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))