The Federal Reserve (Fed) maintained interest rates unchanged, as expected. It revised its growth forecast higher, as expected. The dot plot showed one more rate hike before the end of this year, and less cuts next year.
Today, it’s the Bank of England’s (BoE) turn to decide. Up until yesterday, the expectation was an almost certain 25bp hike, but yesterday’s shocker inflation data has shaken these expectations to 50-50.
Elsewhere, the barrel of US crude fell below the $90pb on Wednesday, FedEx topped estimates thanks to UPS strike threat and GM, Ford and Stellantis have until noon tomorrow to avert broader strikes.
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