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February 19, 2018

Orbex, Will US Interest Rate will be changed by FOMC Meeting this March?

FOMC meeting minutes could prepare investors for a rate hike.

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This article is originally referred from Orbex Market Recap.

The FOMC meeting minutes will be the key event risk from the United States this week.

The meeting minutes will cover the recently held FOMC meeting where interest rates were left unchanged.

It was also the last meeting that was chaired by Janet Yellen.

Still, despite the FOMC not taking any major decision in regards to interest rates, the meeting minutes could reveal potential signals for a rate hike in March.

The Fed’s statement showed that members were more confident that inflation could start to rise faster.

This was validated by the fact that last week’s inflation data showed a 2.1% increase in headline CPI while core CPI also picked up.

Following the release of the CPI and the PPI which also rose 2.7% on an annual basis, the futures market showed an 83% probability of a rate hike at the March FOMC meeting.

The upcoming Fed meeting will be chaired by the new Fed Governor, Jerome Powell and will also include a press conference.

Officials had previously signaled that interest rates could rise at least three times this year. While the markets were initially reluctant, we expect this could change quite soon.

Original Source: Orbex Market Recap

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