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US Fed maintains key lending rate unchanged

World News

12-06-2024 | 14:18

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US Fed maintains key lending rate unchanged

The US Federal Reserve left its key lending rate unchanged on Wednesday and penciled in just one rate cut this year, down from the three expected in March.

The Fed voted unanimously to maintain its benchmark interest rate between 5.25 and 5.50 percent, saying in a statement that "modest" progress had been made toward its long-term inflation target of two percent. Fed officials also raised their inflation forecasts for 2024 and kept their growth outlook unchanged.

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