It was the seventh consecutive meeting in which the Committee paused the rate cycle, leaving it at the highest level in 23 years.

As the market expected, the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) maintained the pause in the upward cycle of the rate in a unanimous decision and left it between 5.25% and 5 ,50 percent.

This was the seventh consecutive meeting in which the Committee paused the rate cycle, leaving it at the highest level in 23 years.

In the statement of the fourth monetary announcement of the year, in the internal survey they carried out among members, they recognized that they could cut the rate only once at the end of this year, thus reducing the forecast they had last March of two cuts.

This projection results from the responses collected in the dot survey where each of the FOMC members anticipates where they will leave the rate in the following monetary decisions, the so-called dot plot that is collected quarterly and is disclosed in the announcements of March, June, September and December.

In the statement of the decision, they recognized that the moderation of inflation was resumed, however they noted that “it is still above the objective” which is 2 percent.

"Inflation has decreased over the past year but remains high; in recent months there has been modest progress toward the FOMC's 2% target."

The United States Department of Labor recently reported that the Consumer Price Index registered an annual variation of 3.3% in May, which remains far from the specific objective of 2 percent.

UNCERTAIN IMPACT ON THE MEXICAN ECONOMY

In the announcement statement, the FOMC again acknowledged that “economic activity has continued to expand at a solid pace. Employment growth has remained strong and the unemployment rate is declining.”

Waiting for the usual conference by the president of the Fed, Jerome Powell, to explain the decision in detail, at 12:30, Mexico time.