Further interest rate rises were not ruled out by the rate-setting federal open market committee.
The Federal Reserve, which is the US central bank, has held interest rates after 10 consecutive rises.
The decision was announced a day after official figures showed US inflation was 4% – less than half the UK’s current level of 8.7%.
Latest data from the Bureau of Labor Statistics said prices rose 4% in May, the lowest pace of increases in more than two years.
Following the Fed’s announcement, US interest rates will continue to be at 5% to 5.25%, a high not previously seen since 2007.
The Fed had been increasing rates in an effort to dampen economic activity and bring price rises down to the regulator’s 2% target.
