Sunday, July 01, 2007

Federal Reserve

Exyending a yearlong breather for borrowers, The Federal Reserve held interest rates steady. Policymakers, however, made it clear that they were not ready to declare victory on that front. Fed. Chairman, Ben Bernanke, wrapped up a two day meeting and his central bank colleages left an important interest rate at 5.25 percent, the same as it was last June. This decision means that commercial banks' prime interest rates for certain credit cards. home equity loans and other loans should stay at 8,25 percent.

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