Yesterday, the FOMC decided to keep interest rates unchanged as was widely anticipated, while in the statement accompanying the decision it upgraded its language on inflation. Today, attention will turn to Eurozone’s preliminary CPIs for April, as well as the Norges Bank policy decision.
Fed Keeps Rates Unchanged; Upgrades Language on Inflation
The dollar ended the day within a narrow range of ±0.20% against most of the other G10 currencies. It gained notably only against SEK and NOK, while it lost more than 0.20% against AUD.
The FOMC decided to keep interest rates unchanged yesterday, while in the statement accompanying the decision it upgraded its language on inflation. The Committee noted that inflation metrics “have moved close to 2 percent”, instead of saying “have continued to run below 2 percent” as was the case previously. “Inflation on a 12-month basis is expected to run near...
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