New Delhi, Dec. 11 -- Amidst moderately paced economic activity, rising unemployment, elevated inflation level and uncertain economic outlook, the Federal Open Market Committee (FOMC) has decided to lower the target range for the federal funds rate by 0.25 percentage point from 3.75-4 per cent to 3.5-3.75 per cent, a business chamber said on Thursday.
Rajeev Juneja, President of PHDCCI, said in a communique here that the announcement was coupled with expansionary monetary policy measures of lowering the interest rate paid on reserve balances to 3.65 per cent (effective Dec 11 2025), undertaking open market operations as necessary to maintain the federal funds in the target range.
"Conducting standing overnight repurchase agreement operati...