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According to analysts at the Royal Bank of Canada, in the US, the Fed is universally expected to hold the fed funds target range unchanged at the March 20th FOMC meeting alongside softening in Q1 GDP growth data and increased concerns about the global growth backdrop.

Key Quotes

“And revised assessments of the most likely path for interest rates going forward are likely to show fewer and more gradual hikes through the end of 2020. Still, US economic reports have been more constructive recently, including solid increases in business construction spending and capital equipment shipments in January reported over the last week.”