URGENT: US Fed leaves rates unchanged

The US Federal Reserve (Fed) decided to leave the interest rates unchanged at 5.25-5.50 per cent on Wednesday.

The decision came in the wake of the US recent discouraging inflation figures indicating a potential slowdown in progress towards achieving greater economic equilibrium.

“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably towards 2 per cent,” Fed Chair Jerome Powell stated during the press conference.