US Fed Keeps Benchmark Rate Unchanged: What It Means For India's Economy

In a move that is sending ripples across the globe, the US Federal Reserve has kept its benchmark interest rate unchanged at its latest policy meeting. The decision comes as a surprise to many, and it leaves investors and policymakers alike wondering what this means for the global economy.

The Fed also made no changes to its employment projections or guidance on future rate cuts, which may lead to concerns about the impact of rising inflationary pressures. Analysts are now looking out for any signs that the Fed might increase interest rates in the coming months to combat these pressures.

This decision comes against a backdrop where India's economy is also grappling with similar challenges. With inflation running high and growth slowing, policymakers will be on high alert as they consider how this development will impact their own economic strategies. The Union government may have to contend with calls from the new President who now argues that he has a say in the Fed's policies.

Gold Rates Surge, Silver Down: Check Prices In Delhi, Mumbai, Chennai, Bengaluru & Others

Gold prices in India moved sharply upwards today as global market forces took control of the commodity's price trajectory. Prices hiked by around 2% across major cities including Delhi, Mumbai, Chennai, Bengaluru and others.

These sharp fluctuations take into account trading activities on major global markets, most notably the London OTC spot market and the COMEX gold futures market which are instrumental in shaping India's gold demand dynamics.