World
Fed leaves interest rates unchanged despite inflation in the US
Rates will remain 3.75-4 percent even as inflation continues to rise.
Al Jazeera•
The United States Federal Reserve is set to hold interest rates steady in its final monetary policy decision before the US midterm elections.
The central bank will maintain rates at 3.75-4 percent, following a 10-2 vote, in line with expectations.
CME FedWatch, which tracks the likelihood of monetary policy decisions, indicated that there was more than a 90 percent chance rates would remain unchanged.
The most recent Consumer Price Index (CPI) report showed the annual inflation rate increasing to 3.7 percent in September, up from 3.4 percent in August, with energy prices largely accounting for the monthly surge.