Shares of Indian IT companies, including Infosys, Tata Consultancy Services (TCS) and others, will remain in focus on Thursday after the US Federal Reserve announced its first interest rate hike since 2023, with officials expecting one more increase later this year.
The American central bank’s Federal Open Market Committee (FOMC) announced the decision after a two-day meeting, increasing the benchmark interest rate by 25 basis points to a range of 3.75%-4%. This follows consumer inflation staying at 3.4% in August, the same as last month but still well above the Fed’s 2% target. Inflationary pressures were further intensified by soaring energy prices amid renewed tensions in the Middle East.
