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The FOMC will be releasing a statement regarding future monetary direction along with the Federal Funds Rate decision, which is expected to be kept at the current level of 0.25%.
The focus of the market in the past few weeks has been on the speculation of further monetary easing by the Feds in the form of expanding its balance sheet by introducing another Quantitative Easing measure, or QE II (II being the second one).
FOMC is going to release its short-term interest rate decision today and most analysts agree that FOMC will keep current rates unchanged especially after the series of worse than expected economic data during the past few weeks, including the disappointing NFP (Nonfarm Payroll) Employment last Friday.
However, even though there is no chance for a surprise rate change, as predicted by the chart left, (0.0%~0.25% is about 100% probability) the real focus is still on the FOMC statements on future monetary policy.
FOMC is going to release its short-term interest rate decision today and most analysts agree that FOMC will keep current rates unchanged especially after the series of worse than expected economic data during the past few weeks, including but not limited to housing, employment, and retail sales.
RBNZ (Reserve Bank of New Zealand) will be releasing its interest rate decision today and it is widely expected that Gov. Bollard will hike rates today from the current level of 2.50% to 2.75%; here is the forecast:
5:00pm (NY Time) RBNZ Rate Decision Forecast 2.75% Previous 2.50%
ACTION: NZD/USD BUY 3.00% SELL 2.50%
According to analysts, RBNZ will be following RBA’s (Reserve Bank of Australia) and BOC’s (Bank of Canada) examples and start its rate tightening policy in today’s meeting. Out of 15 analysts surveyed by Bloomberg, 13 have forecasted a hike of 25 basis point and 2 remained at unchanged…
RBNZ (Reserve Bank of New Zealand) will be releasing its interest rate decision today and it is widely expected that Gov. Bollard will keep rates at the current level of 2.50%; here is the forecast:
5:00pm (NY Time) RBNZ Rate Decision Forecast 2.50% Previous 2.50%
ACTION: NZD/USD BUY 2.75%
RBNZ Gov. Bollard
FOMC is going to release its short-term interest rate decision today and most analysts agree that FOMC will keep current rates unchanged until at least Q3 or Q4 of this year, if not 2011, despite of recent positive economic releases in the Housing, Employment, and Retail sectors.
2:15pm (NY Time) US FOMC Rate Decision Forecast 0.25% Previous 0.25%
ACTION: USD/JPY BUY 0.50% SELL <0.25%
FOMC is going to release its short-term interest rate decision and mosts analysts agree that FOMC will keep current rates unchanged until at least Q3 or Q4 of this year, if not 2011. Federal Reserve needs more economic data to justify a surprise hike in the interest rate, and judging from the past 3 months of NFP releases, we are not quite yet there.
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