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The fed expects four rate increases in 2019

Travel portal 27.09.2018 at 11:20

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Thursday, September 27, at the morning trading the single European currency is trading slightly higher after the results of the past fed meeting.

on Wednesday, the currency pair EUR/USD volatile reacted to the outcome of the fed meeting, but remained in narrow sideways 1,1730-1,1790. Note that the regulator announced to raise interest rates to the range of 2%-2,25%, which coincided with expectations of analysts. In the covering letter it was noted that the regulator continued to assess the long-term inflation expectations as stable, the labor market remains strong, and economic activity in the country continues to grow vigorously. With regard to economic projections, the fed revised its forecast for GDP growth upward in 2018, with a range of 2.7% to 3% to corridor 3%-3,2% in 2019, from 2.2% -2,6% to 2.4%, which is 2.7% in 2020 from 1.8% -2% to 1.8% of-2.1%. The inflation forecast for 2018 were not changed and amounts to 2% of-2.1%. It is also noted that the median interest rate forecast for 2018 is 2.4%, and at the end of 2019 – 3,1%, implying four rate hikes.

On a press-conferences fed Chairman Jerome Powell said that short-term interest rates remain low. However, he noted that the US economy looks strong, while current financial conditions are still challenging.

macroeconomic statistics in the U.S. went out data on new home sales, which in August amounted to 629 thousand against the forecast of 630 million While the July reading was revised downward from 627 thousand to 608 thousand In France were published the consumer confidence index stood at 94 points, while analysts had forecast the figure at 97 points.

Today, market participants should pay attention to the statistics on consumer confidence index and business climate in the Eurozone in September. According to our expectations, the first indicator was -2.9 points, while the second indicator was at the level of 1.19 points. In addition, the US will release data on final GDP for the second quarter. We expect that the index rose 2%.

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