US Federal Reserve Holds Steady on Interest Rates Amidst Economic Stability
Washington D.C. - The US Federal Reserve announced Wednesday it would hold steady on interest rate cuts, leaving its key rate unchanged at approximately 3.6%, according to Euronews. This decision comes after the Fed lowered the rate three times last year.
The central bank cited signs of stabilization in the job market and described economic growth as "solid," a step up from last month's characterization of "modest," Euronews reported. The Fed indicated that the economy is growing at a healthy pace, with no signs of deterioration in hiring. When the Fed reduces its key rate, it tends to lower borrowing costs for things like mortgages, car loans and business borrowing, though those rates are also influenced by market forces.
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Meanwhile, water bills in England and Wales are set to rise again in April, with the average annual bill increasing by £33 to £639, according to BBC Business. Water UK, the industry trade body, stated that the increases are necessary to fund vital upgrades to the system and address spillages.
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