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Fed left interest rates unchanged

Wednesday, Jan 28 2015
As it was largely expected Fed left its interest rates unchanged. In the following statement it was expressed that "in determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. " As it was the case in December it was once again repeated that we have to "be patient in beginning to normalize the stance of monetary policy."  
 
"However, if incoming information indicates faster progress toward the Committee’s employment and inflation objectives than the Committee now expects, then increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated", it was emphasized. 
 
"The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run",it was said in conclusion.
 
After the Statement was released, reactions of the markets were mixed. Euro is currently being traded above 1.1340 level, Sterling is around 1.5180 area, while Aussie is around 0.7970 level.
More in this category: « Sterling little changed in a steadier European part of session Import Prices rose less than expected »

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