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Fed hints at June rate hike

Wednesday, May 18 2016

"Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor market conditions continuing to strengthen and inflation making progress toward the committee's 2 percent objective, then it likely would be appropriate for the committee to increase the target range for the federal funds rate in June," according to minutes of the Federal Open Market Committee's April 26-27 meeting released Wednesday in Washington. "Participants expressed a range of views about the likelihood that incoming information would make it appropriate to adjust the stance of policy at the time of the next meeting," the minutes stated.

Referring to the June meeting, officials "generally judged it appropriate to leave their policy options open and maintain the flexibility to make this decision" based on how the economy evolves, the minutes said. In March they warned that global developments "continue to pose risks," a warning they dropped in April."This change in language was intended to convey the committee's sense that the risks associated with global developments had diminished somewhat since the March FOMC meeting without characterizing the overall balance of risks," the minutes said.

 

Euro is currently being traded 1.1340 level, Aussie is at 0.7250 handle, while Sterling is slightly below 0.76 area.

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