12:15pm# Stock
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he Federal Open Market Committee is due to conclude its two-day meeting with
a statement being released at 12:30 p.m. Eastern time.
At 2 p.m. Eastern the committee is slated for the first time to release
forecasts made by individual members for the central bank’s interest-rate
target. The members will also provide views on the likely timing of the
first rate hike by the Fed.
Bernanke will hold a news conference at 2:15 p.m. Eastern.
In its recent statements, the U.S. central bank has said it would keep
interest rates exceptionally low at least through mid-2013.
Analysts and investors expect the member forecasts to show no rise in rates
until 2014.
“The market is arguably poised for a dovish skew from this afternoon’s
series of Fed events, leaving us asking the obvious question: Has a ‘no
hike until 2014’ been fully priced in?” said David Ader and Ian Lyngen,
bond strategists at CRT Capital Group. “And will it simply prove a case of
`buy the rumor and sell the fact’?”
a statement being released at 12:30 p.m. Eastern time.
At 2 p.m. Eastern the committee is slated for the first time to release
forecasts made by individual members for the central bank’s interest-rate
target. The members will also provide views on the likely timing of the
first rate hike by the Fed.
Bernanke will hold a news conference at 2:15 p.m. Eastern.
In its recent statements, the U.S. central bank has said it would keep
interest rates exceptionally low at least through mid-2013.
Analysts and investors expect the member forecasts to show no rise in rates
until 2014.
“The market is arguably poised for a dovish skew from this afternoon’s
series of Fed events, leaving us asking the obvious question: Has a ‘no
hike until 2014’ been fully priced in?” said David Ader and Ian Lyngen,
bond strategists at CRT Capital Group. “And will it simply prove a case of
`buy the rumor and sell the fact’?”
