In a statement released by the Fed, it was stated that the decision to keep the interest rate unchanged was taken unanimously.

The statement said that recent indicators pointed to a slowdown in the strong pace of growth in economic activity in the third quarter.

Employment gains have slowed since the beginning of the year but remain strong, the statement said, adding that the unemployment rate remains low.

In the statement, it was stated that inflation slowed down throughout the year but remained high.

Emphasizing that the Federal Open Market Committee (FOMC) targets maximum employment and 2 percent inflation in the long run, the statement said that it was decided to keep the federal funds rate at 5.25-5.50 percent in order to support these targets.

DECISION UNCHANGED IN THREE MEETINGS

Unemployment debate in China; fired at 30 Unemployment debate in China; fired at 30

The Fed, which started raising interest rates by completing its asset purchase operation last year in the face of high inflation in the US, has made a total of 11 rate hikes since March 2022 and raised the interest rate by a total of 525 basis points.

With these increases, the bank's policy rate reached 5.25-5.50 percent, the highest level since 2001.

With its latest decision, the Fed left the policy rate unchanged in 3 consecutive meetings, leaving it unchanged at the current range.

Inflation in the US reached 9 percent on an annualized basis in June last year, the highest level since 1981.