US interest rates to stay at record low levels

The Fed said its main interest rate would be kept at the current 0 percent to 0.25 percent range, as widely expected. Its rate-setting committee said that data on the US economy painted a mixed picture of the recovery from recession.

That meant rates would remain at "exceptionally low levels... for an extended period", the committee said. It added that rates could be kept low because inflation was expected to remain subdued in the near future.US markets reacted positively to the news, with the Dow Jones Industrial Average rising 30 points following the announcement.