New Delhi, Sept. 16 -- Gold prices remained steady in Wednesday's trade after the US Federal Reserve raised interest rates by 25 basis points, as widely expected, with policymakers seeing little evidence of a meaningful slowdown in inflation.

The decision comes amid persistent price pressures and strong economic data, keeping the central bank focused on bringing inflation back towards its 2% target.

After keeping interest rates steady for four consecutive meetings, the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by a quarter percentage point to 3.75%-4%.

(more to come)

Published by HT Digital Content Services with permission from MINT....