US Fed Retains Interest Rate, Hints At A Slash In The Future

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.

Juviraj AnchilUpdated: Thursday, March 21, 2024, 04:18 PM IST
article-image
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.

RECENT STORIES

Govt Bonds Worth ₹29,000 Crore Coming Up For Auction On May 31

Govt Bonds Worth ₹29,000 Crore Coming Up For Auction On May 31

LIC Net Profit Rises 2% To ₹13,763 Crore In Q4FY24

LIC Net Profit Rises 2% To ₹13,763 Crore In Q4FY24

Godrej & Boyce Sells Premium Mumbai Office Spaces In Vikhroli For ₹157 Crore: Report

Godrej & Boyce Sells Premium Mumbai Office Spaces In Vikhroli For ₹157 Crore: Report

SEBI Puts In Place SOP For Handling Of Commodity Exchange Outage, Extension Of Trading Hours

SEBI Puts In Place SOP For Handling Of Commodity Exchange Outage, Extension Of Trading Hours

Feeding The Needy: Dr. Praveen Chakravarthy And His Fight To Resolve Hunger

Feeding The Needy: Dr. Praveen Chakravarthy And His Fight To Resolve Hunger