Fed keeps base rate steady at 5.25 percent

The Federal Reserve on Thursday kept its base interest rate steady at 5.25 percent and said inflation remains its main concern as US economic activity shows signs of firming.

The Fed announcement, which had been widely expected, was accompanied by small changes in the language of the central bank statement.

The Federal Open Market Committee said inflation remains its "predominant policy concern," and noted that economic growth has picked up a bit from a soft patch early this year.

"Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector," it said following a unanimous vote by the panel.

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- Posted: 2007-06-29 10:54:24

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