The US Federal Reserve made a decision on the dollar

The Federal Reserve (Fed), which serves as the country's central bank, kept the benchmark interest rate at 3.75-4% following its meeting.

This was stated in a press release posted on the regulator's website.

"Economic activity is growing at a strong pace. Although the level of uncertainty remains high, partly due to geopolitical factors, domestic consumption is showing resilience. Labor productivity growth remains strong, and the volume of capital investment is significant," the statement noted.

The Fed added that "inflation continues to remain at an elevated level." The decision to keep the interest rate unchanged was supported by 10 out of 12 members of the body's leadership. Two voted in favor of raising the rate by 25 basis points (bps).

The Fed typically raises rates to curb the pace of price growth and lowers them to stimulate the labor market. In September, prices rose by 3.7% year-over-year, with the country's inflation rate nearly double the financial regulator's target of 2%.

Last month, 29,000 new jobs were created in the country, indicating a sharp slowdown compared to the 162,000 jobs created in August. The September figure came in significantly below economists' expectations.

U.S. President Donald Trump has repeatedly criticized the Fed for raising rates, including directing criticism at the financial regulator shortly after last month's first rate hike in three years by 25 bps.

The next Fed meeting on rates is scheduled for December 8-9. The body's leadership is expected to decide on a rate increase of 25 bps at that meeting.