U.S. fed funds rate holds at 0.13 percent

[December 09, 2015]    NEW YORK (Reuters) - The U.S. federal funds rate <USONFFE=>, which banks charge each other to borrow excess reserves, averaged 0.13 percent for a sixth day on Tuesday, according to Federal Reserve data released on Wednesday.

The average, or effective, fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.06 percent to 0.35 percent for a fourth straight session on Tuesday.

The U.S. central bank is expected to raise its interest rate target range, currently at zero to 0.25 percent, at its two-day policy meeting next week.

(Reporting by Richard Leong)

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