URGENT: Fed holds key interest rate steady at 22-year high of 5.25-5.50%

The U.S. Federal Reserve on Wednesday kept its benchmark interest rate on hold at a 22-year high of 5.25-5.50 percent for the third consecutive time.

The Fed's decision to extend the pause was announced after a two-day policy meeting. Its previous rate-hike in July was the last in a series of 11 consecutive increases dating back to March 2022.

© Kyodo News