Mubasher: The Fed stated on Wednesday that it would be “patient” regarding any further increase in interest rates.

The central bank kept interest rates stable as expected, ranging from 2.25% to 2.5%.

“In light of global economic and financial developments and muted inflation pressures, the Federal Open Market Committee (FOMC) will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes,” the Fed added in a statement.

The Fed agreed that the FOMC was ready to conduct any changes to guarantee the completion of balance sheet normalisation based on economic and financial developments.

Earlier in January, the minutes of the FOMC’s meeting in December was released, showing that a group of Fed officials were in favour of a steady policy.

The minutes also showed that some officials were against the interest-hike decision.