US Fed leaves rates unchanged

The US Federal Reserve unanimously voted today to hold its overnight interest rates unchanged at 5.25 per cent – 5.50 per cent – continuing its July stance.

The Fed however forecast an additional rate hike before the end of the year to bring down inflation.

The Federal Reserve raised interest rates to their highest level in 22 years in July, with all members of the rate-setting committee having voted in favor of the move. The goal still is to slow inflation and bring it back down to the Fed’s target of 2%.