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The Fed has announced its interest rate decision. After the meeting of the Federal Open Market Committee (FOMC), the official rate remained unchanged and remained stable in the range 0-0.25%. Interest on excess reserves (IOER) fell to 0.10% and finds interest at 0.25%.
The Fed’s point chart, which is unanimous and does not take a decision beyond expectations, predicts the continuation of the zero interest policy until 2023.
After the decision, while the US equity markets rally continued to 2.5 points, the dollar index continued its course below 93 points. There were no significant changes on the USD / TL front, the exchange rate is horizontal at 8.42.
Although the Fed has stated that it is ready to fully support the economy for maximum employment and price stability, it has not made any changes with regards to long-awaited asset purchases. It was noted that weakening demand and low energy prices kept inflation low.
In the text of the decision, which stated that economic activity and employment continued to recover, it remained below the pre-pandemic level, and reiterated that the coronavirus posed a significant risk to the economic outlook. The Fed also stressed that verbal guidance in its favorable monetary policy will continue.
Details will come …
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