18 Jun 2015

Fed still on track for rate rise this year

8:13 am on 18 June 2015

The Federal Reserve in the United States is still picking interest rates to rise at least once this year.

The Fed has concluded a two-day monetary policy meeting.

Policymakers believe a hike in interest rates will be appropriate after further improvement in the labour market.

American rates have been at close to zero percent since the start of the financial crisis.

The central bank said economic activity was improving, with jobs growth and steady unemployment.

Fifteen out of 17 policymakers still indicate the first rate hike should take place this year, no change from a previous set of predictions.

Analysts believe rates will rise as early as September.

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