Arab Finance: The US Federal Reserve kept interest rates unchanged for the fourth consecutive meeting in a range of 5.25% to 5.5%, according to a Federal Open Market Committee (FOMC) statement.

"The committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%," the central bank said in its statement.

The Committee believes that until it is more certain that inflation is steadily approaching 2 percent, it will not be appropriate to lower the target range.

Furthermore, in accordance with its previously disclosed intentions, the Committee will keep cutting the amount of Treasury securities, agency debt, and agency mortgage-backed securities that it owns.

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