New Delhi, Dec. 11 -- The US Federal Reserve has reduced interest rates for the third time in a row, cutting the rate by 25 basis points.
With this change, the US rate now stands between 3.50-3.75 per cent.
This cut was expected, as the Fed has been trying to support the economy at a time when inflation is cooling and growth is slowing slightly. The central bank also indicated that future rate cuts will depend on how the economy performs next year.
The rate cut immediately affected global markets.
In India, stock market sentiment turned positive, with early signs showing that the Sensex and Nifty were likely to open higher.
A weaker US dollar after the announcement also helped improve confidence in emerging markets like India, as globa...