US central bank keeps interest rates unchanged

Washington

THE US Federal Reserve on Wednesday voted to keep interest rates unchanged and said it would begin rolling back its massive balance sheet "relatively soon" at the conclusion of its two-day meeting.

Investors had widely expected no changes to the Fed's interest rate, which helps set the cost of borrowing and lending around the country. The central bank hiked its benchmark interest rate by a quarter-point to between one per cent and 1.25 per cent in June, the third such hike in six months, and investors expect another move in December.