New Delhi, Sept. 18 -- The US Central Bank's Federal Open Market Committee ( FOMC) has lowered its benchmark policy rate by 25 basis points to 4-4.25pc range, said an official statement.
The 'Federal Open Market Committee' comes within the Federal Reserve System (the Fed), which is charged under United States law with overseeing the nation's Open Market operations.
The announcement of rate cuts follows after two-day meeting from September 16-17, under the chairmanship of Jerome Powell, Chair of the Federal Reserve of the United States.
The Federal Reserve noted the moderate growth of economic activity in the first half of the year.
An official statement said, " Recent indicators suggest that growth of economic activity moderated in the ...