13:11 - 6.07.2023

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July 6, Fineko/abc.az. The U.S. Federal Reserve System (FRS; Fed), acting as the country's central bank, intends to raise the base interest rate at a slower pace than in recent months.

ABC.AZ reports that this is stated in the distributed report on the meeting of the Federal Open Market Steering Committee held on June 13-14.

Following its results, the Fed kept, as expected, the base rate at the level of 5.00-5.25%.

The document says that the management of the financial regulator this time decided not to raise the rate amid concerns about the growth of the American economy. The meeting participants considered that such a decision "will give more time to assess the progress of the economy in achieving the goals of the committee - maximum employment and price stability". However, they agreed on the need to raise the rate further at a slower pace.