Washington DC, July 30 -- The US Federal Reserve has kept its benchmark interest rate unchanged at 3.5 per cent-3.75 per cent, but the decision exposed growing differences within the Federal Open Market Committee (FOMC), with three policymakers dissenting in favour of a 25-basis-point rate hike amid persistent inflation concerns.

The FOMC voted 9-3 to maintain the target range for the federal funds rate at 3.5 per cent-3.75 per cent, saying the decision supports the Federal Reserve's dual mandate while continuing its policy of maintaining ample reserves in the banking system.

"The Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 per cent, in support of the Federal Reserve's dual mandate," the c...