US Fed cuts interest rates by 25 bps to 4.25-4.50% range

The US Federal Reserve on Wednesday reduced the interest rates for the third consecutive time. The Fed slashed interest rates by 25 bps to a range between 4.25-4.50%. The policymakers now see the benchmark rate reaching an average of 3.75-4% by the end of 2025, implying only two quarter-percentage-point cuts, according to the median estimate.