The US Federal Reserve (Fed) is leaving the key interest rate in the extremely low range of 0.0 to 0.25 percent for the time being.

The Central Bank Council decided on Wednesday.

In view of the high inflation rate and the good situation on the labor market, however, it will "soon be appropriate" to raise key interest rates, the Fed said.

The massive bond purchases started because of the corona pandemic should therefore be ended by the beginning of March.

The Fed is committed to the goals of price stability and full employment.

The labor market is developing very positively, but inflation is forcing the Fed to take countermeasures.

An increase in the key interest rate would curb inflation, but also dampen the economy.

US consumer prices rose 7 percent in December, the highest in decades.

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