Fed rate freeze should calm markets – BSP

The United States Federal Reserve’s decision to keep its policy interest rates steady for now until later in the year should calm global financial markets and trading partners such as the Philippines, the Bangko Sentral ng Pilipinas (BSP) governor said.

Immediately the peso gained strength in Thursday’s trade after US Fed Chair Janet Yellen announced that the Federal Open Market Committee (FOMC) reaffirmed its view that the current 0 to 0.25 percent target range for the federal funds rate “remains appropriate.”