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Expect the Fed to spring no surprise at its Board of Governors’ meeting today

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Mumbai) - The US Federal Reserve had on 20th November announced that its Board of Governors will meet on 23rd November “under expedited procedures” to review and determine the advance and discount rates.

    No economic policy change can be expected today. It is definitely not the day when the Fed will announce a lift off of the zero per cent interest rate that it has held steady for almost a decade now. Fed’s October meeting minutes and speeches by the Fed officials all hint at a December rate hike. Thus an announcement on the much anticipated rate hike can only be expected at the December 15-16 meeting of the Fed. Today’s meeting is probably just a part of the central bank’s decision making process.

    Given that there is growing concern in the market with respect to the impact of Fed’s rate hike on emerging economies, the Fed might have included a discussion on the rate hike impact in its agenda.

    Also, today’s meeting will be a closed one implying that sensitive conversation is likely to confidential. However following the closed meeting an announcement on matters discussed will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site.

    The Fed cannot be expected to throw in any surprise today.
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