Powell signals rates will stay higher for longer
Matthew CranstonUnited States correspondent
Updated
Washington | The Federal Reserve signalled that US interest rates are likely to stay higher for longer because of sticky inflation in the world’s biggest economy, but dismissed any chance of a rate rise this year.
The US central bank held interest rates on Wednesday (Thursday AEST) at 5.25 to 5.5 per cent, saying there had been “a lack of further progress” towards its 2 per cent inflation goal in recent months.
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