The open market Committee of the Federal reserve system (FRS) the USA kept its benchmark rate at 0.25-0.5 per cent per annum. This is stated in the press release published Wednesday, November 2, at the end of the next fed meeting.
This decision was made on the basis of a number of such indicators in the second half of 2016, as the tightening labor market and increasing the number of jobs, increased economic activity, the containment of inflation below two percent in the long term, the decline in energy prices.
However, the Committee did not rule out that the base rate will remain at this level for a long time.
"The Committee expects that economic conditions will develop in such a way that will serve as the basis only for a gradual increase in the base rate, which is likely for some time remain below the level that is expected to prevail in the long run. However, the actual rate change will depend on economic prospects", — stated in the document.
The regulator assured that it will continue to closely monitor inflation in the United States, as well as the dynamics of the global economy and financial markets. The next fed meeting is scheduled for December 13-14.
The fed saves the base rate at 0.25-0.5 per cent per annum from December 2015. Then for the first time since June 29, 2006 it raised it by 0.25 percent. The regulator lowered the rate in 2007-2008, to achieve the lowest level of 0-0. 25% (December 2008).