Federal Reserve officials indicated last month that they needed to see “further progress on inflation” before any new interest rate cuts, as the US central bank kept monetary policy steady in the face of high uncertainty over the outlook.
According to minutes from the January meeting of the rate-setting Federal Open Market Committee, a majority of US central bankers said they needed to adopt a “careful” approach to any monetary policy changes.
The Fed last month held its main interest rate steady at a range between 4.25 per cent and 4.5 per cent.
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