The Federal Reserve System (Fed), which acts as the central bank of the USA, at the end of its two-day meeting held on September 17-18, lowered the interest rate by 50 basis points to the level of 4.75-5.25% per annum.

Axar.az reports that this is the first decrease since March 2020.

In the United States, for more than a year, this indicator reached the maximum level of the last 20 years and was at the level of 5.25-5.5%. Fed has kept interest rates at this level since July 2023.

The next Fed meeting regarding interest rates will be held on November 6-7.

Note that the exchange rate determines the value of the US dollar worldwide. Its decrease can depreciate the currency.