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Regional Fed banks backed holding discount rate steady: minutes

Regional Fed banks backed holding discount rate steady: minutesRegional Fed banks backed holding discount rate steady: minutes

WASHINGTON (Reuters) – All 12 regional Federal Reserve banks supported holding steady the interest rate commercial banks pay for emergency loans ahead of the central bank’s latest policy meeting, minutes of Fed discount rate discussions showed on Tuesday.

The U.S. central bank held the discount rate at 2-1/4 percent while also holding steady its benchmark lending rate at its May 1-2 meeting.

The Fed last raised interest rates on March 21 and is expected to lift them again in June.

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Source: Investing.com

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