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Following its 2-day meeting,  the  Federal Open Market Committee announced that it left the benchmark interest rate unchanged at the target range of 2% – 2.25% in a widely expected decision.    Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is scheduled to deliver his comments on the monetary policy in a press conference at 18:30 GMT.  

Key highlights from the official statement (via Reuters)

  • Information received since the Federal Open Market Committee met in January indicates that the labor market remains strong but that growth of economic activity has slowed from its solid rate in the fourth quarter.  
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About the FOMC statement.  

Following the Fed’s rate decision, the FOMC releases its statement regarding monetary policy. The statement may influence the  volatility  of USD and determine a short-term positive or negative trend. A hawkish view is considered as positive, or bullish for the USD, whereas a dovish view is considered as negative, or bearish.

About the FOMC economic projections.  

This report, released by Federal Reserve, includes the FOMC’s projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC member’s interest rate forecasts.