May 14, 2015 / 12:26 PM / in 2 years

U.S. fed funds rate at 0.13 pct for 9th day

NEW YORK, May 14 (Reuters) - The U.S. federal funds rate , which banks charge each other to borrow each other’s excess reserves, averaged 0.13 percent for a ninth day on Wednesday, Fed data released early Thursday showed.

The fed funds rate, which the Federal Reserve targets to achieve its rate objective, traded in a range of 0.02 percent to 0.3125 percent, matching Tuesday’s range of 0.06 percent to 0.3125 percent. (Reporting by Richard Leong)

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