U.S. central bankers reduced the interest rate target by half a percentage point in September. Federal Reserve Chair Jerome Powell stated that this significant reduction shows confidence in reaching the 2% inflation target, and it should not indicate future cut rates’ pace. Policymakers are divided between focusing on inflation risks and labor market concerns.
Rupee flat on hopes West Asia truce will hold
The Indian rupee remained stable against the dollar as risk assets gained across Asia and Europe. Falling oil prices and expectations of a West Asian