US Fed holds interest rates at 22-year high

By Agence France-Presse

Nov 03, 2023 12:34 am

WASHINGTON D.C.: The US Federal Reserve (Fed) voted Wednesday (Thursday in Manila) to hold interest rates at a 22-year high for a second straight meeting, as it moves to slow stubborn inflation without damaging the strong economy.

The Fed's decision to keep its benchmark lending rate between 5.25 percent and 5.5 percent gives policymakers time to 'assess additional information and its implications for monetary policy,' the US central bank said in a statement.

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