New Delhi, June 23 -- The US Federal Reserve kept the benchmark interest rate unchanged at 4.25-4.5%, extending the wait for its first reduction of this year. Interest rates were last lowered in December. However, it indicated a 50 basis points (bps) reduction by the end of 2025, and two cuts of 25bps each in 2026 and 2027. The Bank of England, too, kept the benchmark rate unchanged at 4.25%, after two cuts earlier this year. At the other end of the spectrum, the Bank of Japan agreed to keep increasing rates if economic recovery continues, as per the minutes of its May policy meeting released on Friday.







The biggest sentiment overhang is Donald Trump's tariff turbulence, which is preventing central banks from cutting rates immediate...