WASHINGTON: The US central bank kept its key interest rate unchanged as expected on Wednesday and at the same time signaled policymakers were not overly concerned by the recent uptick in inflation. The Federal Reserve noted inflation had moved up but said its two percent target was “symmetric,” indicating there was margin to fluctuate above or below that level. But analysts said this statement was a signal instead that the Fed is unlikely to overreact. US stocks rallied modestly just after the Fed statement but pulled back soon after that. The dollar fell sharply against basket of other currencies but quickly reversed course, rising to a new high for the year.

Source: Manila Times May 03, 2018 16:24 UTC