Future economic indicators will decide Fed's next steps: UBS

New Delhi [India], December 19 (ANI): The Federal Reserve's next steps on interest rates will be guided by economic data, according to a report by UBS.

While the major global markets reacted negatively to the change in rate cut cycles by Fed for next year the report noted that Fed will continue to monitor the economic conditions and various data before taking any step.

It said, "We believe the Fed remains data-dependent,