Federal Reserve plans to keep rates near zero until 2023

2020-09-16 18:47:02 GMT (Economies.com)
Federal Reserve plans to keep rates near zero until 2023

The US Federal Reserve signaled that it plans to keep the interest rate near zero unchanged at least until the end of 2023.

 

This comes within the Fed's efforts to support the US economic recovery from the coronavirus impact.

 

The Federal Reserve decided to hold the interest rate between zero and 0.25% unchanged in a widely expected move.

 

The Fed also stated today there will no be interest rate hikes before 2024.

 

The bank raised its estimates for the GDP in 2020, but lowered its forecasts for the unemployment rate to 7.6% due to the rapid recovery of the economy during this summer.

 
 
 
  Symbol Last Change Chg.%
1.1667
-0.0103
0.8760%
1.2751
-0.0078
0.6064%
Tadawul
8236.17
-26.43
0.32%
23.069
-2.937
11.293%
40.258
0.067
0.167%
41.94
0.00
0.00%
1865.595
-49.930
2.607%
 
 
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