The rupee continued with its downward trajectory as the dollar index maintained an upward momentum as minutes of US Fed's December 17-18 meeting showed that it is expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. A clear division among the Fed's 19 policymakers was also very clear. Some expressed support for keeping the central bank's key rate unchanged while a majority of the officials said the decision to cut rates was a close call.
This story is from the January 10, 2025 edition of Financial Express Mumbai.
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This story is from the January 10, 2025 edition of Financial Express Mumbai.
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