Fed keeps rates steady, toughens policy stance as 'soft landing' hopes grow

The Fed's benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50 per cent-5.75 per cent range, according to updated quarterly projections released by the US central bank, and rates kept significantly tighter through 2024 than previously expected.

Fed keeps rates steady, toughens policy stance as
Financial markets had widely expected that the Fed would leave rates unchanged. | Image: Reuters

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