The US Federal Reserve maintained its benchmark interest rate on Wednesday but indicated that rate cuts are likely later this year, reflecting growing concerns over economic uncertainty, inflationary pressures,

The U.S. central bank held interest rates steady on Wednesday, and while its policymakers indicated they still expect to reduce borrowing costs by half a percentage point by the end of this year, Federal Reserve Chair Jerome Powell made it clear they would wait for more clarity on Trump administration policies.

Traders and investors will be closely watching today’s update from the US Federal Reserve. Although a rate adjustment is highly unlikely, the focus will be on the usual rate statement, the press conference,