The Federal open market Committee of the US Federal reserve decided to keep the base rate at the same level of 2.25-2.5%.
Representatives of the fed also reported that they do not plan to raise the rate in 2019 due to fears of insufficient growth of the economy. Previous projections suggested one or two increases during this period.
The fed has pursued a policy of consistent rate hikes over the past three years. There were three increases in 2018, each time by 0.25 percentage points.
The fed’s rate hike usually leads to a rise in the price of the dollar against other currencies.