US Fed Leaves Rates Unchanged Amid Inflation Concerns

The US Federal Reserve is set to announce its interest rate decision on July 29th at 11:30 p.m. IST, with most economists expecting rates to remain steady amid inflation concerns and market uncertainty over a possible surprise hike.

However, markets are still pricing in the possibility of a rate hike, with CME Group's FedWatch Tool showing about a 31.5% chance of a 25-basis-point increase.

The biggest reason for this uncertainty is inflation, which remains above the Fed's 2% target despite easing from its highs.