Federal Interest Rate Steady As Economy Picks Up Gradually

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25 April 2012 @ 01:05 pm EDT

The Federal open Market Committee concluded its two-day meeting in Washington, where policy makers decided to maintain its pledge to keep the benchmark interest rat at a record low of 0.0 percent to 0.25 percent at least though late 2014.

The Federal Reserve opted to keep its policy unchanged while saying the economy is "expanding moderately", supported by recent improvement in labor market. Unemployment rate declined but remains elevated, policy makers signaled on Wednesday.

Inflation expectations "remained stable" the Fed said, citing rising fuel prices, while indicating that growth was mainly moderate as price pressures continue has ticked up somewhat on energy, however the Fed see growth "picking up gradually".

The greenback was little changed after the rate decision, while the USDIX which tracks the performance of the U.S. dollar against six major trading partners slipped to 79.10 areas after the rate decision, and now trades around 79.2.

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