Fed holds at 4% upper bound; ECB sets euro at 1.1133 USD
The Fed held the upper bound of its federal funds target range at 4% on Wednesday, Oct. 28, unchanged from September. The ECB set its euro reference rate at 1.1133 USD, edging down from the prior day.
Key figures
| Indicator | Value | Previous |
|---|---|---|
| Fed funds target range, upper boundOctober 28, 2026 | 4% | 4%September 16, 2026 |
| ECB reference rate, US dollars per euroOctober 28, 2026 | 1.1133 USD | 1.1150 USDOctober 27, 2026 |
Source: Board of Governors of the Federal Reserve System. Data: B-NKER (b-nker.com), CC BY 4.0.
What was published
- The Board of Governors of the Federal Reserve System announced its rate decision for October 28, 2026, and the upper bound of the federal funds target range holds at 4%. That is unchanged from 4% on September 16, 2026, and the Fed said in its statement: “The Committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate.” Read our brief on FOMC rate decision for details.
- The European Central Bank published its reference rate of 1.1133 USD for October 28, 2026, and the euro edges down from 1.1150 USD on October 27, 2026. This is an official reference exchange rate, set by the ECB for the day, and the rate page is at ECB reference rate, US dollars per.
Next release
Thursday, Oct. 29, 8:30 a.m. ET (12:30 GMT)
Sources
- Board of Governors of the Federal Reserve System, FOMC rate decision, 2026-10-28
- Board of Governors of the Federal Reserve System, FOMC rate decision, previous
- European Central Bank, ECB reference rate, US dollars per euro, 2026-10-28Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.
- European Central Bank, ECB reference rate, US dollars per euro, 2026-10-27Source: European Central Bank (ECB), information available free of charge on the ECB website. Data: B-NKER (b-nker.com), CC BY 4.0.
Every figure in this article is checked by code against the official source before publication. Editorial policy · Corrections log. Information, not investment advice.
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