The US Federal reserve kept its base rate at zero

The Board of governors of the Federal reserve system of the USA decided to leave the base rate unchanged at 0-0,25%. About it it is spoken in the statement of the regulator, published on July 29.

The Fed stressed that the outbreak of coronavirus has caused “enormous human and economic hardship in the United States and around the world.”

“After a sharp decline in economic activity and employment have increased somewhat in recent months, but remains significantly below [the usual] level. Weak demand and a significant decline in oil prices restrain consumer price inflation,” – said in a statement.

In this regard, the fed “decided to keep the target rate range unchanged at 0-0,25%”.

“The Board intends to maintain this target range until until confidence that the economy has gone through [the crisis], and is on track towards achieving its objectives of maximum employment and price stability”, – underlined in the message.

In March 2020, the Federal reserve is twice extra reduced interest rates to protect the economy from the negative impact caused by the spread of coronavirus infection. On 3 March the rate was reduced by 0.5 percentage points – up to 1-1. 25%. March 16, the fed decided to reduce the rate by 1 percentage point – to zero.

Flash coronavirus infection COVID-19 began in December 2019 in the Chinese city of Wuhan. March 11, the world health organization declared the spread of the coronavirus pandemic.

At the moment in the US, the coronavirus has infected more than 4.4 million people (around the world – of 17.03 million), more than 150 thousand of them died (667 thousand – in the world).

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