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Fed raises interest rates by 25bp to range of 2-2.25%. 2018 GDP forecast raised. Drops “accommodative” from FOMC statement.
US equities lost the momentum late yesterday, while the US dollar rose, after the Federal Reserve raised interest rates, as expected, and signalled the end of its "accommodative" monetary policy.
Global equities cooled off and US bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening with forecasts of five more rate hikes by 2020.
Oil prices rose by 1 percent today as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.
The dollar edged higher yesterday in choppy trading after the Fed’s rate decision. The upsurge was mainly a result of indications of more rate hikes going forward and signals of the end of the "accommodative" policy era.
The Indian Unit however is seen opening stronger at 72.40 a dollar, as the Govt. announces measures (Increase in import duty) to curb Current Account Deficit; and is expected to swing between 72.20-72.70 for the day.
Fed raises interest rates by 25bp to range of 2-2.25%. 2018 GDP forecast raised. Drops “accommodative” from FOMC statement.
US equities lost the momentum late yesterday, while the US dollar rose, after the Federal Reserve raised interest rates, as expected, and signalled the end of its "accommodative" monetary policy.
Global equities cooled off and US bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening with forecasts of five more rate hikes by 2020.
Oil prices rose by 1 percent today as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.
The dollar edged higher yesterday in choppy trading after the Fed’s rate decision. The upsurge was mainly a result of indications of more rate hikes going forward and signals of the end of the "accommodative" policy era.
The Indian Unit however is seen opening stronger at 72.40 a dollar, as the Govt. announces measures (Increase in import duty) to curb Current Account Deficit; and is expected to swing between 72.20-72.70 for the day.
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