Fed keeps rates on hold; ASX set to rise, Wall Street steady
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The US central bank decided to keep borrowing costs unchanged. This move was expected by many. The bank is waiting for more inflation data before making changes. It also delayed any decisions until after the upcoming US midterm elections.
It was a widely expected move, with the central bank opting to delay any changes to borrowing costs until after next week’s US midterm elections and awaiting further data on the path of inflation.