U.S. Fed Maintains Rates and Policy Unchanged

The United States Federal Reserve has decided to maintain interest rates unchanged in its June meeting that concluded on Wednesday.

The Federal Open Market Committee (FOMC) expects it will be appropriate to maintain the current rate target range until labor market conditions have reached levels consistent with the maximum employment target and inflation has sustainably reached 2%.

In addition, the Fed will continue the current pace of asset purchases at $120 billion per month.

Furthermore, the Fed has decided to extend temporary U.S. Dollar (USD) liquidity swap lines with nine central banks until the end of the year.