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09:48
The Fed, as expected, did not cut interest rates

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According to the results of the meeting of the Federal Open Market Committee (FOMC) of the Federal Reserve the US, which took place from 10 to 11 December, the key interest rate in the US remained unchanged in the range of 1.5-1.75%. This decision was taken monophonic.
 

 

 

In this case, the central bank officials signaled the likelihood of preservation of current rates in 2020. It was also noted that the Committee for the current level of monetary policy acceptable to support economic development.

In addition, the committee stressed that it still pays attention to all incoming information about the future growth of the economy, including covering world events and contain inflationary pressures.

It is also necessary to pay attention to the fact that the Fed has made changes in the macroeconomic expectations when compared with the forecasts presented at the meeting in September.

Namely, members of the regulators reduced the growth rate of the base consumer price inflation this year to 1.4-1.5%, whereas previously expected that the figure will reach 1.5-1.6%. 

There have also been changes in the growth forecast for the US economy next year. So, it has been improved to the level of 2-2.2%, while in September estimate stood at 1.8-2.1%. In addition, the committee projected interest rates will be in the range of 1.6-1.9% in 2020.

 

WELTRADE analyst

 

 

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