Fed Leaves Rates Unchanged, Signals Openness to June Increase
Federal Reserve policy makers signaled they’re open to raising interest rates in June, nodding to improvement in global financial markets and downplaying recent weakness in the U.S. economy. The Federal Open Market Committee omitted previous language that “global economic and financial developments continue to pose risks,” instead saying officials will “closely monitor” such developments, according to a statement released Wednesday following a two-day meeting in Washington.
The Fed left its benchmark interest rate unchanged. “Labor market conditions have improved further even as growth in economic activity appears to have slowed,” the FOMC said. “Growth in household spending has moderated, although households’ real income has risen at a solid rate and consumer sentiment remains high.” The committee reiterated that it will probably raise rates at a “gradual” pace.
Euro is currently being traded few points above 1.13 level, Sterling is around 1.4530 handle, while Aussie is at 0.7580 area.
Source: Bloomberg.com
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