New Delhi, July 30 -- The US Federal Reserve maintained a status quo on interest rates on July 29, keeping the federal funds rate steady in a target range between 3.5% and 3.75% for the fifth consecutive policy.

It was in December 2025 that the central bank made changes to the rates and cut rates by 25 basis points to bring them to the current range.

The Fed's policy was on expected lines. However, three of the 12 policymakers- the presidents of the Fed's Cleveland, Dallas and Minneapolis regional banks- dissenting with a unified view was a remarkable development.

Those three members of the Federal Open Market Committee (FOMC) voted for a 25 basis point hike at the July meeting.

It was the first time in almost 10 years (since Septembe...