US Fed Rate Cut A Major Boost To India

Mumbai: The softening of US Fed rate by 0.5 percentage point (50 bps) is a welcome step, given the strengthening US economy with stable inflation, industry analysts said on Thursday, as the focus turns to India, which is the fastest-growing economy in the world.

After the rate cut decision, the US dollar turned higher, putting pressure on gold like safe commodities. Moving forward, given the uncertain global economic environment, “we expect the US Fed to maintain its vigil stance,” Agrawal noted.