BUSINESS MEMO: FED LEAVES RATES UNCHANGED

Federal Reserve policy-makers left interest rates unchanged last week, apparently deciding that economic growth is moderating enough to prevent inflation from igniting.

The widely anticipated decision means borrowing costs for millions of consumers and businesses with loans linked to benchmark Fed rates will hold steady as well.

The Fed's decision was revealed in a brief announcement at the end of a two-day meeting of the Federal Open Market Committee, the group of Fed board members and regional bank presidents who meet eight times a year to review monetary policy.