In a widely expected move,... the U.S. Federal Reserve has left rates unchanged.<br />Releasing a statement after its latest policy meeting,... the Fed said inflation is finally climbing... after years of being stuck below its two-percent target level.<br />Lee Seung-jae reports. <br /> Wrapping up a two-day meeting,... the Federal Open Market Committee held U.S. interest rates steady on Wednesday,... expressing confidence that a recent rise in inflation would be sustained,... putting it on track to raise borrowing costs in June.<br />The Fed's decision to leave its benchmark overnight lending rate in a target range of between one-point-five percent and one-point-seven-five-percent was unanimous.<br /> The Fed said inflation had "moved close" to its target,... and the "price stability" part of its dual mandate from Congress had almost reached its two-percent target. <br />Experts say the two-percent target is symmetric,... meaning it would be equally problematic if inflation lingers too far above or below that level.<br /> The Fed's comments on the U.S. labor market were also of interest.<br />It downplayed a recent slowdown in economic and job growth,... saying the activity had been expanding at a moderate rate and job gains, on average, had been strong in recent months.<br /> Last month,... the Bank of Korea left its key interest rate unchanged,... deciding to hold the rate at one-and-a-half percent. <br />U.S. interest rates are now higher than South Korea's lending rates.<br />Prior to that, they had been on par with each other since December of last year. <br /> Back in the U.S.,... the Federal Reserve currently forecasts two more rate hikes this year,... while an increasing number of policymakers see three as possible. <br />All eyes turn to the Fed's next meeting in June,... when rates are set to go up.<br />Lee Seung-jae, Arirang News. <br />
