Federal Reserve stays put on rates

(Sharecast News) - America's central bank stood pat on policy on Wednesday, saying that there had been no additional progress towards its 2.0% inflation goal. So while inflation had "eased" over the past year, it remained "elevated" and policymakers remained "highly attentive" to price risks, the Federal Reserve said in its policy statement.

On the flip side, the monetary authority described recent economic growth as "solid", while adding that the economic outlook was "uncertain".

The target range for the Fed funds rate was kept at 5.25-5.50%.

However, the Fed said that starting from June it would slow the pace at which it was reducing its holdings of Treasury debt from $60bn per month to $25bn.

-- More to follow --