US Fed keeps base interest rate at 1-1.25%

US Fed keeps base interest rate at 1-1.25%

The US Federal Reserve System acting as the national central bank has kept the base interest rate at the level of 1-1.25%, the Federal Open Market Committee said after the meeting.

Bloomberg poll revealed that only five of one hundred and eight economists surveyed expected the Fed to raise the interest rate by 25 basis points to 1.25-1.5% per annum. The rest of the surveyed experts predicted the rate would remain in the prior range of 1-1.25%, TASS reported.

The Federal Reserve raised the rate previously in June 2017 to 1-1.25% per annum.

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