BREAKING: FOMC hikes rates by 25 bp❗

7:00 PM 26 July 2023

FOMC announced its latest monetary policy decision today at 7:00 pm BST. As widely expected, the US central bank decided to deliver a 25 basis point rate hike, putting Fed funds rate in the 5.25-5.50% range. This is the highest level of rates in the US since the beginning of 2001! 

There were no major changes in the statement and as there were no economic projections or dot-plot released at this meeting, investors need to wait until 7:30 pm BST to  hear more from Fed Chair Powell during his press conference. For now, at least one more rate hike this year still seems to be the Fed's base case scenario even though the market does not believe it will deliver.

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits