The U.S. Federal Reserve has frozen its target interest rate,... signaling an end to its sustained period of rate hikes.
The Fed also vowed to be patient as it considers future adjustments,... a decision which is in stark contrast with its stance in December.
Kim Hyo-sun reports.
The Federal Reserve has held its target interest rate steady at 2-point-2-5 to 2-and-a-half percent.
Following its Federal Open Market Committee meeting on Wednesday,... it also reiterated that it will be "patient" as the Fed evaluates future rate hikes.

"In this environment, we believe we can best support the economy by being patient and evaluating the outlook before making any future adjustment to policy."

The statement released by the rate-setting body also said the Fed would continue to rely on data for future decisions,... adding that the U.S. economy remains on solid footing.

"The U.S. economy is in a good place and we will continue to use our monetary policy tools to help keep it there. The jobs picture continues to be strong, with the unemployment rate near historic lows, and with stronger wage gains."

This is in contrast with the Fed's last statement in mid-December,... in which it said some further gradual rate increases would be warranted.
Economists also forecast the Fed would freeze rates in January,... according to CNBC,... which surveyed more than 50 market watchers.
Since 2015,... when the Fed announced an end to its zero interest-rate policy,... it has raised rates nine times,... and hiked them four times last year alone.
Kim Hyo-sun, Arirang News.