According to the Federal Reserve (Fed) of the USA, the basic interest rate was maintained at 5 to 5.25% per year following the outcomes of the June meeting.
The choice matched expectations of the majority of analysts. The regulator chose to maintain the rate for the first time since January 2022.
Due to the devastating economic repercussions of the coronavirus pandemic, the regulator was reducing the rate by 0-0.25% each year in 2020. As a result, it was lifted for the first time since December 2018 in March.
source: bloomberg.com
