“October remains a possibility for interest rate hike,” said the U.S. Fed

“October remains a possibility for interest rate hike,” said the U.S. Fed. September. 19, 2015 07:03. jarrett@donga.com.

At the center of global attention on September, the U.S. has decided to freeze the interest rates at Federal Open Market Committee (FOMC). Through its statement and press conference, the Federal Reserve System (Fed) announced at dawn on Friday (Korean time) that the current near-zero interest rates (0.0 ~ 0.25 percent) will be maintained.

Earlier in the market, many predicted that the U.S. could possibly raise the interest rates as it has proclaimed the normalization of its fiscal policy within the year. The Fed, however, explained that it has postponed the increase due to concerns for low prices in the nation and unstable factors in international financial market. “October remains a possibility for interest rate hike,” said Fed Chairwoman Janet Yellen.

Relived by the rate freeze in the U.S., Korean financial market showed its upward trend on Friday. The KOSPI was up 19.46 points, finishing at 1,995.95 while the KOSDAQ jumped by 2.85 percents.