FOMC countdown: 30 mins to go, looking hawkish – UOB

By FXStreet Analysts at UOB Group acknowledged that the main event on Wednesday (16 Mar) is the Fed Reserve’s 15/16 March FOMC.

Key Quotes:

“The March FOMC statement will be followed by FOMC Chair Janet Yellen’s press conference. We do not expect the Fed Reserve to hike its policy rate or start trimming its >US$4trillion balance sheet in March but the Fed may issue some hawkish signals to keep the potential rate hike decision alive in the April and June FOMC.

The market will also closely watch the dot-plot chart which may show a further moderation in the rate hike trajectory to three or even two 25bps rate hikes in 2016 (down from four hikes projected in the Dec 2015 FOMC dot plot). US economic data docket is also in focus today (16 Mar) following yesterday’s sluggish February retail sales numbers casting some gloom on the US consumer.”
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Source:: FX Street