New Delhi, Oct. 30 -- The US Federal Reserve on Wednesday cut the benchmark interest rate by 25 bps to the range of 3.75% - 4.00% as was widely expected by the market. This was the second straight interest rate cut by the US Fed this year. The central bank said it will now be focusing on the balance of risk in the US economy, along with the evolving outlook and the incoming data, to further decide on the future route of the key interest rates.

However, Fed Chair Jerome Powell downplayed the possibility of an interest-rate cut in the next monetary policy as he said that the market's prediction about a potential rate cut in December 2025 is not a 'foregone conclusion' and highlighted that the reality is "far from it."

The market odds of t...