U.S. fed funds rate remains at 0.38 pct

January 27, 2016 1:18 PM

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NEW YORK Jan 27 The U.S. interest rate that the Federal Reserve targets held at 0.38 percent on Tuesday, its highest level in over seven years, for a third straight day, according to Fed data released on Wednesday.

The average, or effective, fed funds rate, traded in a range of 0.33 percent to 0.56 percent for a second consecutive day ahead of the release of the latest policy statement from the Federal Reserve at 2 p.m. (1900 GMT).

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