The US Federal Reserve System (FRS), which performs the functions of the country’s central bank, reduced the key interest rate by 0.25 percentage points to 4.5-4.75% at the end of the meeting.
Oku.Az TASS reports that this was reported in information published on the US regulator’s website.
The market expected a reduction in the range of discount rates, the second in a row after a long period of stability.
“To support its objectives, the FOMC (Federal Open Market Committee – ed.) decided to reduce the target range for the federal funds rate by 0.25 percentage points to 4.5-4.75%. In addition to the range of the interest rate “When considering the amendments, the committee will carefully evaluate incoming data, changes in forecasts and the balance of risks,” the statement said.
The US regulator said that economic activity in the country continues to grow at a constant pace. Since the beginning of the year, labor market conditions have improved and the unemployment rate has increased, but remains low. However, inflation has moved closer to the 2% target, but remains slightly high.
