Federal Reserve chairman Alan Greenspan chose to steer a steady course today and leave US interest rates on hold for the third time this year.
The Fed slashed the cost of borrowing in 2001 but tonight it kept rates steady at 1.75% as the US economic recovery tentatively continued.
The decision was widely forecast by economists.
Investec’s David Page said: ‘‘Various members (of the Fed) have pointed to the need for greater clarity before considering a hike and markets are generating fairly mixed signals as to how strong the recovery will be at the moment.
‘‘The Fed can afford to wait.’’