New Delhi, April 29 -- The US Federal Reserve is expected to keep interest rates unchanged at its upcoming policy meeting on Wednesday, as rising inflation risks from geopolitical tensions and a slowing growth outlook complicate the policy environment, according to a report by ICICI Bank.

The report said that at the conclusion of its policy meeting scheduled for April 28-29, the Federal Open Market Committee (FOMC) is likely to maintain a status quo on rates, although Governor Stephen Miran is expected to dissent and vote for a 25 basis points cut.

It stated, "The case for the FOMC to maintain status quo and signal that it is likely going to be on a prolonged pause has increased considerably".

It noted that the ongoing conflict is expe...