US Federal Reserve keeps interest rate at 0.25%

NEW YORK (Forex News Now) – The US Federal Reserve made no changes to the Federal Funds Rate when it convened Tuesday in one of the day’s major realtime forex news events.

In a move that had minimal immediate impact on currency market trading, the central bank decided to keep the interest rate at 0.25%, the mark at which it has been since it lowered the rate from 1.00% in December 2008.

Analysts had forecast that the rate would remain unchanged, major online FX trading news outlets reported.

The Federal Open Market Committee said in a statement released simultaneously that information it has received in the past month shows the economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment.