U.S. Fed pauses hike of interest rates

The U.S. Federal Reserve on Wednesday kept the target range of the federal funds rate unchanged at 5 percent to 5.25 percent, following a slew of 10 consecutive hikes since March 2022.

"Holding the target range steady at this meeting allows the committee to assess additional information and its implications for monetary policy," the Federal Open Market Committee said in a statement issued on Wednesday afternoon, after concluding its latest two-day policy meeting.

(CGTN)