26 Jun 2009

Fed keeps interest rates near-zero

5:44 am on 26 June 2009

The US Federal Reserve has held its base interest rate at almost zero.

After a two-day meeting, the Federal Open Market Committee left the base federal funds rate in a range of zero to 0.25% on Wednesday. The decision was widely expected.

The FOMC said the US economy remained weak but was showing signs of improvement.

It predicted a "gradual resumption of sustainable economic growth" without inflationary pressures.