Weekly Focus - Taking Stock of Central Bank Week
This week was all about central banks with monetary policy meetings around the globe. In the US, the Fed maintained the policy rate unchanged at 5.25%-5.50% as widely anticipated, but surprised hawkishly with higher median rate projections (dot plots). The median 'dots' were revised up by 50bp for both 2024 (to 5.1%) and 2025 (to 3.9%) which moved treasury yields higher. The higher projected policy rate was due to a large upward revision of the growth outlook for 2023 to 2.1% (from 1.0%) and 1.5% (from 1.1%) for 2024, while inflation forecasts only received minor adjustments. For mor...
Source: actionforex.com
