FOCUS OF THE DAY: Fed interest rate decision
Dear traders,
According to analysts’ forecasts, the Fed will keep the interest rate as a result of its two-day meeting. The decision of the Federal Reserve will be announced at 21:00 Kiev time. Most likely, the range of the federal funds rate will remain at 1.75-2.0%.
The US Central Bank will issue a monetary policy statement, which will be carefully considered by investors regarding the prospects for raising the interest rate in September and in December.
After two rate increases on federal funds in June, the Fed gave a forecast for two more such increases this year.
Fed Chairman Jerome Powell recently once again predicted a gradual increase in the interest rate, indicating that the cost of borrowed funds will continue to grow this year, despite the volatility in the markets caused by the ongoing trade conflict between the US and China.
Futures on the federal funds rate gives a probability of about 90% for an increase in the interest rate in September, according to a forecast from Investing.com. The probability of a fourth interest rate increase in December is about 70%. (Investing.com)
Have a nice trading day, Ladies and Gentlemen!
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