Mortgage Rates Move Lower After Fed Announcement
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GCC central banks hold interest rates steady for 6th time following Fed's move
RIYADH: Gulf Cooperation Council central banks have held interest rates steady for the sixth time as the US Federal Reserve keeps its benchmark level between 5.25 percent and 5.50 percent. As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington, with policymakers opting to lock the rate at the level it has been since July. The freeze comes as the rate-setting panel cites “a lack of further progress toward the...
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Fed leaves interest rates unchanged amid inflation rate higher than 2% target
May 1 (UPI) — The Federal Reserve Wednesday voted to keep interest rates unchanged, in line with expectations as inflation remains above the central bank’s 2% threshold. The Federal reserve’s Federal Open Market Committee said in a statement that the central bank left interest rates for overnight bank borrowing within a range of 5.25%-5.5%. With CPI inflation at 3.5%, the […] The post Fed leaves interest rates unchanged amid inflation rate higher than 2% target first appeared on Gephardt Daily.