The Federal Reserve Board (FRB), the central bank of the United States, has decided to keep its policy interest rate unchanged for the eighth consecutive meeting.

On July 31, the Federal Reserve announced in a statement that it had decided to keep interest rates unchanged for the eighth consecutive meeting as it continues to assess the impact on the economy.

On the other hand, regarding the 2% inflation target, the Bank used stronger language than last time, saying that “some further progress has been made in recent months,” suggesting that interest rate cuts may be imminent.

Fed Chairman Powell also said at a press conference that he was “increasingly confident” about the economic indicators and that “a rate cut is possible at the next meeting in September.”

With Powell hinting at a rate cut in September, the narrowing interest rate gap between the US and Japan is drawing attention, which could lead to a stronger yen.