16 Dec 2015
Scandies trim losses vs. USD post-FOMC
FXStreet (Edinburgh) - Both the Norwegian krone (NOK) and the Swedish krona (SEK) are now recovering part of the ground lost in the wake of the Fed’s announcements, trading within the recent range around 8.7600 and 8.5000, respectively.
Market participants have largely anticipated today’s move, where the Committee has unanimously decided to raise the Fed Funds by 25 bp. Fed officials now see Fed Funds Rate at a median of 3.25% by end 2018.
The Committee now projects the unemployment rate to gradually tick lower in the next years, while it sees GDP growing 2.4% next year and consumer prices rising 1.4% during the same period.
Next of relevance will be the press conference by Chairwoman J.Yellen, while the Norges Bank will hold its meeting tomorrow.
Market participants have largely anticipated today’s move, where the Committee has unanimously decided to raise the Fed Funds by 25 bp. Fed officials now see Fed Funds Rate at a median of 3.25% by end 2018.
The Committee now projects the unemployment rate to gradually tick lower in the next years, while it sees GDP growing 2.4% next year and consumer prices rising 1.4% during the same period.
Next of relevance will be the press conference by Chairwoman J.Yellen, while the Norges Bank will hold its meeting tomorrow.
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