US Fed's December rate cut should be its last for now: official

The US central bank voted 11-to-1 in favor of cutting rates by a quarter of a percentage point at the meeting on December 17 and 18, reducing the bank's key lending rate to between 4.25 and 4.50 percent despite an uptick in inflation. Speaking in California on Thursday, Fed governor Michelle Bowman said she had backed another rate cut but could have been persuaded against it. "I supported the December policy action because, in my view, it represented the Committee's final step in the policy recalibration phase," she said.