As widely expected,... the U.S. Federal Reserve has left its benchmark interest rate unchanged.<br />Analysts say the move signals the Fed will keep raising rates gradually as the U.S. economy continues to perform well.<br />Lee Seung-jae reports. <br />The Federal Reserve is taking it slow and steady,... standing pat on interest rates,... for now at least.<br />The rate will remain in the two to two-and-a-quarter percent range, but the Fed is signaling it will continue to raise rates gradually amid stable economic growth in the U.S.<br />In its policy statement released on Thursday,... the Fed acknowledged the strength of consumer spending was behind the strongest economic growth in four years in the second and third quarter.<br />With borrowing costs unchanged this month,... traders are fairly sure the Fed will raise rates in December. <br />Experts say the decision will immediately lift borrowing costs for Americans with credit cards and other short-term loans.<br />According to data compiled by Bloomberg,... the market has priced in a 79-percent probability that the Fed will raise rates to a range of two-and-a-quarter to two-and-a-half percent next month.<br />At the pace the Fed is moving,... the rate will reach about three percent by the middle of next year... a level the Fed regards as neutral, meaning it would neither stimulate nor discourage economic activity.<br />Lee Seung-jae, Arirang News. <br />
