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WASHINGTON \u2014 The United States Federal Reserve kept its key short-term interest rate unchanged Nov. 1 for a second straight time but left the door open to further rate hikes if inflation pressures should accelerate in the months ahead.<\/p>\n
The Fed said in a statement after its latest meeting that it would keep its benchmark rate at about 5.4 per cent, its highest level in 22 years. Since launching the most aggressive series of rate hikes in four decades in March 2022 to fight inflation, the Fed has pulled back and has now raised rates only once since May.<\/p>\n<\/section>\n\nArticle content<\/p>\n![\"Federal](\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/11\/federal-reserve-nov.-1-.png?quality=5&strip=all&w=100&sig=Kb5E3cfAF4KYJ5MiLe00wA\")
<\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\nThe new statement noted that recent tumult in the financial markets has sent longer-term interest rates up to near 16-year highs and contributed to higher borrowing rates across the economy.<\/p>\n
\u201cTighter financial and credit conditions for households and businesses,\u201d it said, \u201care likely to weigh on economic activity.\u201d<\/p>\n<\/section>\n
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