Fed maintains extended period pledge on rates

By IBTimes Staff Reporter | December 16 2009 4:24 PM

Voicing some optimism about a stabilizing economy, the Federal Reserve on Wednesday left its benchmark federal funds rate on hold near zero and reminded markets that it will let most of its special liquidity facilities expire by early next year.

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Concluding a two day meeting, the Fed voted unanimously to keep benchmark borrowing costs in a zero to 0.25 percent range, and said economic conditions would likely warrant holding rates exceptionally low for an extended period.

(Reporting by David Lawder and Mark Felsenthal; Editing by Tim Ahmann)

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