US Fed keeps interest rate unchanged near zero

The US Federal Reserve kept interest rates unchanged near zero on Wednesday.
 

In a decision widely expected, the central bank kept its benchmark overnight lending rate between 0-0.25%, where it has been since March 15 in the early days of the pandemic.
 

Meanwhile, the Federal Open Market Committee, which sets monetary policy, expressed its commitment to maintain its bond purchases and the array of lending and liquidity programs also associated with the virus response.
 

Earlier in June, the Federal Reserve held interest rates steady near zero and expected it to remain unchanged until 2022.

The Fed also stressed that interest rates will be kept near zero until the US economy returns to the path of recovery and growth, as it expected the size of bond purchases to not change at least for the time being.