Fed holds rates steady less than week before US midterm elections - Nikkei Asia

WASHINGTON (Reuters) -- The Federal Reserve held interest rates steady on Wednesday, as expected, opting to delay any changes to borrowing costs until after next week's U.S. midterm elections and awaiting further data on the path of inflation.

In a 10-2 decision, the U.S. central bank said it would maintain its benchmark interest rate within the current 3.75%-4.00% range while acknowledging that inflation "remains elevated," upgrading its assessment of the economy, and hinting that further rate hikes may be coming depending on the performance of inflation.

"The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee's 2% goal," the rate-setting Federal Open Market Committee said in its latest policy statement. "The Committee will deliver price stability."