The US Federal Reserve left unchanged near-zero interest rates and its massive bond-buying programme on Wednesday, citing modest growth in the world's largest economy.
The US Federal Reserve building is seen on August 9, 2011 in Washington, DC. The US Federal Reserve left unchanged near-zero interest rates and its massive bond-buying program on Wednesday, saying growth was modest in the world's largest economy.
Wrapping up a two-day policy meeting, the Federal Open Market Committee (FOMC) said it would continue to buy US$85 billion in bonds per month to help tamp down longer term interest rates that have been supporting the economy, and especially the housing market recovery.
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