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Central Banks: Fed

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Mar 18 Meeting: 75bp rate cut

Wed, Mar 19 2008, 08:58 GMT
by Marina Schiaffino

FXstreet.com

In its March 18 meeting the Fed has decided to cut its interest rate by 75bp, leaving the benchmark rate at 2.25%. Though analysts widely agree that the Fed would cut the rate, this reduction a bit lower of what many forecasted.

The decision gave some support to the greenback. Though the biggest rally came from the equities.

Check the effect that the meeting has over the pairs in our Rates and Charts Section or compare the movements of the different banks in our World Interest Rates Table.

• · Read the Monetary Policy Report at Federal Reserve
• · View the past interest rates data on our Economic Time series
  
  

In-Depth Analysis: Fundamental

• · Flash Comment - FOMC: Bernanke takes charge of markets by Danske Bank A/S
• · Market Session Snap-Shot - Asian Session - Usd Strengh on Fed Cuts by ACM - Advanced Currency Markets
• · Daily Market Briefing - Dollar Rallies, But be Wary of an Intermeeting Rate Cut by FXCM
• · Daily Global Commentary - FOMC Meeting: Growth Is the Predominant Concern by Northern Trust
• · European and US summary - FOMC Cuts 75-BP, USD Edges Up by Forexnews.com
• · FOMC Cuts the Funds/Discount Rates: Growth the Goal by Wachovia
  
  

 In-Depth Analysis: Technical   

• · Daily FX Report - Fed interest rate adjudication of only 75 basis points instead of expected 100 by Varengold Wertpapierhandelsbank AG
• · Daily Forex Commentary - … and then it's 2.25% … by Jyske Bank
• · Daily Forex Outlook - FOMC cut rates by 75bps, US equity markets rally by Easy Forex
• · Daily Forex Strategy Briefing - Fed Cuts Interest Rates 75 Basis Points by CMS Forex
  
  

In-Depth Analysis: Related Markets

• · London Bullion Report - Gold stabilizes below $1000 as Fed cuts by less than expected by The Bullion Desk
• · Overnight Briefing: American Timezone - U.S. stocks rallied on FED by Jyske Bank
  
  

Related News

• · Fed cut below Latin America expectation; volatility possible - Moody's Economy (Thomson Financial News)
• · Dollar resumes weak trend on expectations Fed to cut rates further (Thomson Financial News)
• · Japanese government bonds end morning mixed after Fed rate cut (Thomson Financial News)
• · Dollar wobbles after Fed cuts (Thomson Financial News)
• · Fed cuts key funds rate by three quarters of a point to 2.25 pct UPDATE (Thomson Financial News)
• · Odds of further rate cuts decrease after Fed's latest move (Thomson Financial News)
• · THE FED: Federal Reserve Cuts Rates By 75 Basis Points, Less Than Expected (Dow Jones)
• · Dollar gains after FOMC cut (FXstreet.com)
• · Federal Reserve still has room to cut -- analyst (Thomson Financial News)
• · Fed cuts key funds rate by three quarters of a point to 2.25 pct UPDATE (Thomson Financial News)
• · Text of today's Federal Open Market Committee rate cut announcement (Thomson Financial News)
  
  

Analysts' comments

• · Kathy Lien, chief strategist at FXCM:
  "While the Fed's smaller-than-expected move may have prevented another sharp drop in the dollar, interest-rate futures market are still pricing in further rate cuts and the dollar is set to come under renewed pressure." - Thomson Financial News
  
• · T.J. Marta, senior currency strategist at RBC Capital Markets:
  "Though the 75 basis points interest-rate cut was less than what many in the financial markets expected, the Federal Reserve stands ready to do more." - Thomson Financial News
  
• · Yosuke Hosokawa, forex dealer at Chuo Mitsui Trust & Banking:
  "Worries about the US economy continued to drag on the dollar after the Fed said in the statement accompanying its rate decision that recent information indicates that the outlook for economic activity has weakened further and that uncertainty about the inflation outlook has increased." - Thomson Financial News
  
  

Published on  Wed, Mar 19 2008, 10:49 GMT