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Central Banks: Fed
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Jun 25 Meeting: On hold at 2%
Thu, Jun 26 2008, 14:47 GMT
by Marina Schiaffino
The Federal Reserve's Monetary Policy Committee has decided to leave its Fund Rate unchanged at 2%, as widely expected, after their monthly monetary policy meeting.
The Fed affirms that easing of monetary policy plus measures to support market liquidity should promote economic growth. Downside risks to growth, although still present have diminished somewhat, while upside risks to inflation have increased, the Bank reaffirms its commitment to "monitor economic and financial developments and will act as needed to promote sustainable economic growth and price stability."
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. Find out what our experts: Valeria Bednarik and Rob Booker have to say about this meeting.
- · Read the official data at the Federal Reserve
- · View the past interest rates data on our Economic Time series
In-Depth Analysis: Fundamental
- · Asia Market Update - Most Asian indices trade higher following the FOMC statement by TradeTheNews.com
- · Market Session Snap-Shot - Asian Session - Markets Calm after FOMC by ACM - Advanced Currency Markets
- · KBC Flash - FOMC keeps rates unchanged; No sign of imminent start of tightening cycle by KBC Bank
- · FOMC: Neutral, with rising inflation concerns by Danske Bank A/S
- · US: FedWatch - First Line of Defense: Hawkish Wording by BBVA Bancomer
- · Sunrise Market Commentary - US Treasuries react moderately positive on FOMC decision and statement by KBC Bank
In-Depth Analysis: Technical
- · Daily Analysis - Fed keeps rate at 2% but sounds inflation alarm by Finotec Group Inc.
- · Daily Trading Forecast - Post-Fed, Pre-ECB Rates Decisions by Swiss e Trade AG
- · Daily Forex News - Forex - FX market turn over Euro as FOMC left rates on hold by ACM - Advanced Currency Markets
- · Daily Forex Technical Report - Dollar Stabilized from Post FOMC Selloff, EUR/JPY at Record High by ActionForex.com
- · Forex Analysis on Majors - FOMC left federal funds rate at 2.0% by Forex Ltd
- · Currency Snapshot - Fed Today, but Keep Your Eye on July 3rd … by Black Swan Capital
- · Technical Trader Closing Brief - Volatile Fed Announcement Session Sees Nasdaq Leading Market Higher by The Technical Trader
Related News
- · Dollar steady in afternoon trade after Fed fails to surprise market (Thomson Financial News)
- · Japanese govt bonds end morning mixed, short tenors in demand after FOMC (Thomson Financial News)
- · Dollar falls further against euro on weak rate hike signal from Fed (Thomson Financial News)
- · Canada Afternoon: C$ Creeps Up Slightly After Fed Rate Call (Dow Jones)
- · Fed keeps key funds rate unchanged at 2.00 pct (Thomson Financial News)
- · U.S. stocks rise further in volatile trading after Fed's no action (Thomson Financial News)
- · Text of today's FOMC policy statement (Thomson Financial News)
- · The Federal Reserve leaves Funds Rate unchanged at 2.0% (FXstreet.com)
Analysts' comments
- · George Davis, chief foreign exchange technical analyst at RBC Capital Markets
"We saw the dollar come under some very aggressive selling pressure after the (U.S. Federal Open Market Committee) decision yesterday." - Reuters - Michael Woolfolk, economist at Bank of New York
"The dollar is on the ropes and has further to fall unless the Fed can correct the market perception that U.S. rates are on hold indefinitely (...) With the ECB clearly focused on inflation and willing to sacrifice growth to keep it at bay, the euro is likely to break its all-time record above $1.60 in the near term." - Reuters - Donald Kohn, Federal Reserve vice chairman
"We are still in the midst of the current episode. Financial markets remain stressed; housing markets in many countries are adjusting after a sharp run-up in prices; and the effects of the turmoil on economic activity in the United States and elsewhere are still working themselves out. Accordingly, it is too early to tell how correlated U.S. and foreign activity will have been in this period. It is far from clear that the divergences in performance we have seen of late, which are tentative in any event, represent distinct breaks from historical benchmarks." - Thomson Financial News
Published on Thu, Jun 26 2008, 15:02 GMT
Archive
- Jun 25 Meeting: On hold at 2%
Published On Thu, Jun 26 2008, 14:47 GMT - Preview of Jun 25 Meeting
Published On Wed, Jun 25 2008, 12:34 GMT - Preview of Apr 30 Meeting
Published On Tue, Apr 29 2008, 09:48 GMT - Mar 18 Meeting: 75bp rate cut
Published On Wed, Mar 19 2008, 08:58 GMT - Preview of Mar 18 Meeting
Published On Tue, Mar 18 2008, 08:23 GMT
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