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US Reserve Bank keeps interest rate at 0.25%

At its policy meeting in New York, the US Reserve Bank pledged to keep the interest rates “for an extended period” at the historic low of 0.25%. It sounded a cautious tone, saying that, while improvement was visible, it still awaited clear signs of recovery. It also pointed out that “household spending appears to be expanding, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth and tight credit”. It is obvious that the bank still sees the health of the economy as a more pressing issue than inflation. Read more: Guardian, BBC News

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