US Fed rate cut, Dec. 11 -- Avoiding a negative surprise for the markets, the Jerome Powell-led Federal Open Market Committee (FOMC) cut benchmark interest rates for the third consecutive time on December 10, bringing the federal funds rate to 3.50%-3.75%, its lowest level since 2022. This was the Fed's third rate cut of the year. In September and October, the central bank delivered cuts of 25 basis points each. In total, the Fed has reduced the federal funds rate by 0.75 percentage points this year.

On expected lines, the central bank was divided in its decision, as nine out of the 12 members voted in favour of the rate cut, while one member felt the need for a 50 basis point rate cut.

Meanwhile, as Reuters reported, only four policyma...