TODAY: The US Central Bank decision!
Dear traders,
The Fed is to conclude its two day meeting today amid expectations that interest rates will remain on hold. At its March meeting the Fed indicated that it will hold off from hiking rates for the rest of the year amid expectations for a slower pace of economic growth.
Fed Chair Jerome Powell will hold a press conference following the meeting, with investors awaiting his insights on the policy outlook.
The meeting is coming after Friday’s data showing that growth the U.S. economy unexpectedly accelerated in the first quarter. However, the expansion was boosted by gains in trade and inventories which may unwind.
“The bottom line is that there are some growth-positive factors at play here that are unlikely to persist into the second quarter. Having said that though, we continue to expect a solid performance from the US economy this year, particularly if we get some more encouraging news from the US-China trade talks,” ING said. “While we don’t expect the Fed to hike rates again this year, we think it looks pretty unlikely that rate cuts are on the horizon at this stage.”
Elsewhere, the Bank of England also looks likely to leave monetary policy unchanged after its meeting on Thursday, as Brexit drags on. (Investing.com)
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