Corporate

19 Mar 2015
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US FOMC Removes “Patient” Phrase

Across the Atlantic, the Fed wound up its meeting yesterday with a post meeting policy statement that revealed the central bank had dropped its pledge to remain “patient” before raising interest rates. However, the US Dollar registered sharp losses against its major peers after the central bank lowered its 2015 projections for interest rates in the US. Yesterday’s labour market data in the UK revealed signs of softness in wage growth. Sterling traders are likely to remain on the side lines today, amid no notable macro triggers on the domestic front. In a noteworthy development yesterday, the British Chancellor upgraded his projections on UK’s economy for 2015 and 2016 and expressed optimism about the nation’s fiscal health.
19 Mar 2015
Share

US FOMC Removes “Patient” Phrase

Across the Atlantic, the Fed wound up its meeting yesterday with a post meeting policy statement that revealed the central bank had dropped its pledge to remain “patient” before raising interest rates. However, the US Dollar registered sharp losses against its major peers after the central bank lowered its 2015 projections for interest rates in the US. Yesterday’s labour market data in the UK revealed signs of softness in wage growth. Sterling traders are likely to remain on the side lines today, amid no notable macro triggers on the domestic front. In a noteworthy development yesterday, the British Chancellor upgraded his projections on UK’s economy for 2015 and 2016 and expressed optimism about the nation’s fiscal health.