U.S. Fed likely to hike interest rate to 2.50 pct in December
U.S. Fed is set to meet tomorrow for interest rate decision. According to a TD Economics research report, the Fed is expected to hike interest rate to 2.50 percent. Changes to the FOMC statement language should remove th…
U.S. Fed is set to meet tomorrow for interest rate decision. According to a TD Economics research report, the Fed is expected to hike interest rate to 2.50 percent. Changes to the FOMC statement language should remove the last vestiges of forward guidance, making policy even more data dependent and hinting that policy might be coming close to the end of the cycle.
During the press conference, Chai Powell is expected to continue to sound cautiously positive regarding the outlook and try to ease market concerns about over-tightening.
“It will only take one FOMC participant to move the median dots in most years; we think a decline in the 2019 median dot to two hikes from three is slightly more likely than staying put. Conversely, we expect the median longer-run dot to remain at 3 percent. The overall tone of the meeting should be modestly dovish”, added TD Economics.
At 16:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at -5.42529. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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