WASHINGTON, January 4. /TASS/. Base interest rate lowering is possible this year but the situation with the rate is very uncertain, the Federal Open Market Committee of the US Federal Reserve said in its report on the meeting held December 12-13, 2023.

Committee members concluded in the report that the interest rate cut is "most likely" in 2024 but did not detail when such a step can be made. Minutes of the meeting mentions the "unusually elevated degree of uncertainty" as regards the rate lowering. "In discussing the policy outlook, participants viewed the policy rate as likely at or near its peak for this tightening cycle, though they noted that the actual policy path will depend on how the economy evolves," the document reads.

Markets at the same time expect that the rate will be lowered six times this year to 3.75-4% from the current level of 5.25-5.5%, which is the highest during the last 22 years.