The US Federal Reserve, to the surprise of no one, held their key rate steady today. The target rate sits within the 3.5% to 3.75% range. This mirrors last week’s announcement by the Bank of Canada.

This is of interest to the DIY investor insofar as it influences the rates you can expect from high interest savings accounts (HISAs) and ultra short term bond funds. I try to keep track of the latest rates over at HISA and short-term bond table (Canada & US) so your idle cash is a little less idle.

The next Fed meeting where rates could change is scheduled for July 29th, a few weeks after the Bank of Canada’s announcement on July 15th.