U.S. fed funds rate slips to top-end of Fed's target range
Reuters
Published Sep 19, 2019 20:29
U.S. fed funds rate slips to top-end of Fed's target range
NEW YORK (Reuters) - A key interest rate the Federal Reserve aims to influence to control monetary policy slipped on Wednesday to the top-end of the central bank's target range, New York Federal Reserve data showed on Thursday.
The effective or average interest rate on what banks charge each other to borrow reserves overnight fell to 2.25% on Wednesday, from 2.30% on Tuesday, which was above the Fed's current target range of 2.00%-2.25%, according to the N.Y. Fed data.
Tuesday's fed funds rate of 2.30% broke above the top-end of the central bank's target range for the first time since the global credit crisis more than a decade ago.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.