The US Federal Reserve officials, meeting for the first time under chairman Jerome Powell, raised the benchmark lending rate a quarter-point. Photo: AFPMumbai: Lack of surprises in the Federal Open Market Committee (FOMC) meeting outcome did not drag Indian stock markets on Thursday despite an interest rate hike by the US central bank. The US Federal Reserve officials, meeting for the first time under chairman Jerome Powell, raised the benchmark lending rate a quarter-point. Policy makers continued to project a total of three interest rate hikes this year. Higher interest rates in the US generally lead to outflow of foreign funds from emerging markets considered to be riskier assets.

Source: Mint March 22, 2018 06:33 UTC