18 Feb 2015
FOMC minutes to be more backward looking than normal – BTMU
FXStreet (Barcelona) - According to Lee Hardman, Currency Analyst at Bank of Tokyo-Mitsubishi UFJ, today’s FOMC Minutes may prove to be more backward looking than normal, and possibly even dampen their potential as a fresh policy signal.
Key Quotes
“We expect US yields to rise further in the coming months especially at the short-end of the curve supporting a stronger US dollar as the Fed remains on course to raise rates from the middle of this year.”
“The release today of the latest FOMC minutes from their 27th-28th January FOMC meeting will be in focus to further assess the likely timing of the first rate hike.”
“At the meeting the Fed upgraded their assessment of the US economy but noted more concern over the sharp fall in market-based inflation expectations and international developments.”
“The minutes may prove even more backward looking than normal dampening their potential as a fresh policy signal.”
“Fed Chair Yellen’s upcoming semi-annual testimony on the 24th February will provide a more timely update taking into account the release of the much stronger than expected non-farm payrolls report for January.”
Key Quotes
“We expect US yields to rise further in the coming months especially at the short-end of the curve supporting a stronger US dollar as the Fed remains on course to raise rates from the middle of this year.”
“The release today of the latest FOMC minutes from their 27th-28th January FOMC meeting will be in focus to further assess the likely timing of the first rate hike.”
“At the meeting the Fed upgraded their assessment of the US economy but noted more concern over the sharp fall in market-based inflation expectations and international developments.”
“The minutes may prove even more backward looking than normal dampening their potential as a fresh policy signal.”
“Fed Chair Yellen’s upcoming semi-annual testimony on the 24th February will provide a more timely update taking into account the release of the much stronger than expected non-farm payrolls report for January.”