HiFX Data Update - US Fed hold rates steady

HiFX Data Update - US Fed hold rates steady

The US Federal Reserve Open Market Committee (FOMC) have just announced US interest will remain unchanged – this was widely anticipated.

The key points from this meeting include:
Holds Rates Steady and Sees 'Solid' Economic Gains
Voted 9-0 For Fed Funds Rate Action
US Federal Reserve Keeps Fed Funds Range Unchanged at 1.25% to 1.50%
Unemployment Rate Has Stayed Low
Risks 'Appear Roughly Balanced' But Officials Monitoring Inflation 'Closely'
Market Inflation Expectations Have Increased But Remain Low
Labour Market Has Continued To Strengthen
Inflation Expected To Move Up This Year, Stabilise Around 2% 'Over The Medium Term'
Drops line saying inflation will remain below 2% near term
Gains In Employment, Household Spending, Business Investment Solid
Economy Will Expand At Moderate Pace, Labour Market Will Remain Strong
Economic Activity Rising At A Solid Rate
Unanimously Reaffirms Statement Of Longer-Run Monetary Policy Goals
Signals No Change In Policy Path .
The NZDUSD fell in immediate response.

Current indicative levels are:

NZDUSD 0.7335 / 0.7360
NZDAUD 0.9125 / 0.9150
NZDEUR 0.5915 / 0.5940
NZDGBP 0.5175 / 0.5200
NZDJPY 80.15 / 80.40
NZDCAD 0.9035 / 0.9060

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