US Fed Retains Interest Rate, Hints At A Slash In The Future
This comes as the country reported a surprise spike in its inflation numbers for the month of February.
Representative image | File
After Japan's tradition breaker earlier this week, the US Federal Reserve has decided to maintain status quo. The US Fed chair, Jerome Powell has kept the interest rate between 5.25 per cent and 5.50 per cent. This comes as the country reported a surprise spike in its inflation numbers for the month of February.
The inflation rate spiked from 3.1 per cent in January to 3.2 per cent in February.
The Fed nevertheless, signaled a change, and most importantly a cut to the interest rate in the time to come. As a result of this, the US market has responded positively to it, with Dow Jones, Nasdaq and S&P 500, all trading in green.
This comes barely few days after the Bank of Japan's landmark decision to change its 17-year-old policy to move the interest rates from the negative territory to the positive zone.
Previously, the Indian central bank, the RBI also chose maintain status quo, when it retained its repo rate at t 6.50 per cent, after the Bank's Monetary Policy Committee meeting, that happens every two months.
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