The U.S. Federal Reserve will hold interest rates steady on Jan. 29 and resume cutting in March, according to a slim majority of economists polled by Reuters, as policymakers digest an expected barrage of new economic policies from Washington.

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

A slim majority of economists surveyed by Reuters believe the US Federal Reserve will hold its key interest rates steady during its January 28-29 meeting and likely resume cuts in March. The decision will be influenced by the administration of President-elect Donald Trump,

The Indian rupee, on Friday, will likely get support from remarks by a Federal Reserve official that the central bank may deliver more rate cuts this year than forecasted in December, which spurred a further dip in U.