Federal Reserve leaves interest rates unchanged

As expected the Federal Reserve left interest rates unchanged on Tuesday at the FOMC's last meeting of 2002. The press release said the risks are balanced with respect to the prospects for both goals (price stability and sustainable economic growth) for the foreseeable future. Voting was unanimous to hold rates at 1.25 per cent, a 41 year low.

Policy makers at the Federal Reserve decided unanimously this afternoon to leave short-term interest rates at their lowest levels in more than four deca