(Finance) – The recent inflation data are “disappointing”, we need to wait before cutting interest rates, “we need greater certainty about progress on prices”.
This is what emerges from the minutes relating to the meeting of Federal Open Market Committee (FOMC), the Federal Reserve body responsible for US monetary policy, which ended on March 20th.
US central bank officials have reiterated that rates will have to remain high if progress on inflation stops.
In March, the FOMC decided to leave interest rates at 5.25%-5.50%, the level they were raised to in July last year.
The bank led by Jerome Powell remains in the spotlight of insiders, after today’s surge in American inflation, in March, beyond expectations, which put to rest hopes of a first rate cut in June.