US Federal Reserve keeps rates steady despite softer inflation data

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The US Federal Reserve has decided to keep its lending rate unchanged at the current 5.25% – 5.50% range and projected just one rate cut this year, despite soft inflation data. But first, the European Commission has informed China that it will impose new tariffs of up to 38% on Chinese-made electric cars from 4 July unless a solution is found otherwise. This comes following months of investigation into Chinese subsidies. 

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