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1st LD: U.S. Fed holds rates near zero, but signals option to tighten policy in December

Xinhua, October 29, 2015 Adjust font size:

U.S. Federal Reserve on Wednesday left the federal funds rate unchanged, but signaled option to tighten policy rate at its next meeting in December.

After a two-day monetary policy meeting that started Tuesday, Fed officials kept the benchmark rate unchanged, yet left the door open for a rate hike at the next meeting in December without providing firm commitment to act the end of the year.

"In determining whether it will be appropriate to raise the target range at its next meeting, the (Fed) will assess progress -- both realized and expected -- toward its objectives of maximum employment and 2 percent inflation," the Fed said in a statement.

According to the statement, Fed officials saw economic activity expand at a moderate pace since September and downplayed recent slower job gains, saying that underutilization of labor resources has diminished since early this year.

The Fed reiterated that the risks to the outlook for economic activity and labor market as nearly balanced, while pledging to continue monitoring global economic and financial development. Endit