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FOMC Minutes showed that there are still inflation concerns

Wednesday, Jan 06 2016

Federal Reserve’s decision to raise interest rates last month was a “close call” for some policy makers who worried about too-low inflation and received assurances that their colleagues would closely monitor its progress. “Some members emphasized the importance of confirming that inflation would rise as projected and of maintaining the credibility of the committee’s inflation objective,” said minutes of the Federal Open Market Committee’s Dec. 15-16 meeting, released Wednesday in Washington.

The minutes also indicated that some members believed “the risks attending their inflation forecasts remained considerable” even as “the committee was now reasonably confident in its expectation that inflation would rise, over the medium term, to its 2 percent objective.” The minutes showed “almost all” FOMC participants were “now satisfied the committee’s criteria for beginning the policy normalization process” had been met.

Euro is currently being traded few points above 1.0780 level, Sterling is around 1.4630 handle, while Aussie is above 0.7070.

More in this category: « US Trade Balance deficit fell to $42.4 billion in November Australian Building Approvals fell by 12.7% »

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