The Federal Reserve lowered interest rates on Wednesday by 25 basis points to a range of 4.25%-4.5% at its final meeting of the year and signaled that it would slow down the pace of its cuts. Along with its policy announcement,

The central bank of the United Arab Emirates cut its base rate applied to the overnight deposit facility by 25 basis points on Wednesday, from 4.65% to 4.40%, effective Dec. 19.

The bank has been lowering rates since June as inflation slowed, but other risks are growing, including the threat of higher tariffs promised by President-elect Donald J. Trump.

Thailand's central bank left its key interest rate unchanged on Wednesday but said global factors would need to be monitored closely given the heightened economic uncertainty ahead. The Bank of Thailand's monetary policy committee voted unanimously to keep the one-day repurchase rate at 2.

Fed Chairman Jerome Powell and his colleagues will announce their decision on interest-rates and provide updates on the outlook for monetary policy and the economy as the new Trump administration prepares to take office.

The Federal Reserve is expected to announce an interest rate cut of 25 basis points on Wednesday, but one former Fed official might have pressed pause instead. The Federal Reserve is expected to cut its key interest rate by 25 basis points on Wednesday.

The Central Bank of Bahrain on Wednesday cut its overnight deposit rate by 25 basis points to 5% from 5.25%, effective from Dec. 19, according to a statement.

The UAE Central Bank reduced its benchmark interest rate by 25 basis points, after the US Federal Reserve’s move on Wednesday to cut rates to stimulate economic activity as inflationary pressures subside.