美聯儲宣布利率決定（上限）為 4.00%，符合預期 4.00%，前值為 4.25%，下調 25 個基點。據美聯儲 FOMC 聲明，自 2025 年 12 月 1 日結束資產負債表縮減後，將對所有到期的美國國債本金支付進行展期（roll over at auction），並將所有來自機構債和抵押貸款支持證券（MBS）的本金贖回資金再投資於短期國庫券。

The Federal Reserve (Fed) announced its interest rate decision, setting the upper bound of the policy rate at 4.00% — in line with market expectations. The previous upper bound was 4.25%, representing a cut of 25 basis points.

According to a statement released by the Fed’s Federal Open Market Committee (FOMC), starting from December 1, 2025, after concluding the reduction of its balance sheet (quantitative tightening, QT), the Fed will roll over all principal payments from maturing U.S. Treasury securities at auction. Additionally, all principal redemption funds from agency debt and mortgage-backed securities (MBS) will be reinvested in short-term Treasury bills.