US Fed maintains key interest ratesWASHINGTON, D.C.: The Federal Reserve left key interest rates untouched Wednesday (Thursday in Manila) but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016. The Fed has repeatedly said it wants to see increasing job growth and signs of stronger inflation before it raises rates. Policy makers had not been expected to raise rates, out of concern that a hike could stifle fragile growth. “This suggests that the countdown to a rate hike in September/December will start in earnest if we get another strong jobs report for July on August 5th,” Ricchiuto said. They also appeared to see less threat to US growth from Britain’s ote to leave the EuropeanUnion, which took place a week after the last FOMC meeting.

Source: Manila Times July 28, 2016 12:33 UTC