US Fed cuts interest rate by 50 basis points after keeping it steady over a year

New Delhi [India], September 18 (ANI): In a departure from the recent monetary policy stance by holding interest rates steady in eight straight meetings, the US Federal Reserve announced a steep 50 basis points interest cut in its latest review meeting.

Investors globally were certain that the US central bank would cut rates, but they were looking for the quantum of the cut.

The US Federal reserve monetary policy committe