Another Fed rate cut likely today

New Delhi: India's not the only economy hassled by rising inflation.

The US Federal Reserve looks set to deliver a small interest rate cut late on Wednesday night – its latest in a string of such moves designed to spurt growth.

The announcement is expected at the end of the Fed's two-day meeting.

However, analysts predict the American central bank could also signal that this is the last rate cut in a cycle of rate cuts.

The Fed has already cut interest rates to 2.25 per cent from 5.25 per cent in six steps since mid-September, in an effort to keep US economic activity going, in the face of a credit crunch and mounting inflationary pressures.