US Fed likely to hold interest rates steady

WASHINGTON D.C.: The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday (Thursday in Manila) as it looks to tackle inflation without damaging the resilient US economy.

Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank to hold rates steady for the second meeting in a row as it looks to return inflation to its long-term target of 2 percent.