The Federal Reserve System, the US central bank, has decided to maintain a'zero interest rate' on the 16th local time.
It also suggested that the zero interest rate stance will be maintained until 2023.
In a statement issued after the Federal Open Markets Committee's regular meeting today, the Fed said it would freeze the rate at the current 0.00-0.25%.
The same position was reaffirmed at the fourth regular meeting of the Federal Open Market Committee since the Fed decided on a zero interest rate in March to respond to the Corona 19 crisis.
At a meeting on March 15, the Fed lowered the benchmark interest rate by 1 percentage point from 1.00 to 1.25% to 0.00 to 0.25% when concerns over the economic downturn were raised strongly due to the global pandemic of Corona 19.
In particular, the Fed's indicators of future interest rate projections suggest that zero interest rates will be maintained through 2023.
This year's economic growth rate is expected to be -3.7% and the unemployment rate at 7.6%.
Considering that the forecasts for June were -6.5% and 9.3%, respectively, it is interpreted that expectations for an improvement in the economic situation are reflected despite the corona 19 pandemic.