Ikon Forex – The US Federal Reserve claimed on Wednesday that they will maintain the federal funds resolution to the benchmark interest rate unchanged at a level barely close to zero. And it also reasserted again that they will keep the promise to maintain the interest rate to an abnormal low level for a long period of time. At the same time, the US Federal Reserve admitted that the US economy recovery steps will be delayed.
The US Federal Reserve unveiled that FOMC will maintain the federal funds resolution to the benchmark interest rate between 0 to 0.25 percent, which was just in line with the previous expectation of the forex market. The US Federal Reserve also said that they will keep the discount rate unchanged at 0.75 percent.
The US Federal Reserve reduced their estimation of the economic recovery stride at the end of the two-day news conference report, pointed out several weaknesses of the economy, and made a statement to warn the forex brokers to be cautious in the international forex market under the condition of concussion brought by EU sovereign debt crises. The US Federal Reserve also said it was predicted that the US economy will continue the steps to get out of the most severe recession for many decades in the international forex market.
The US Federal Reserve pointed in their claim, generally the support of the financial market condition to the economy recovery was reduced, which indicated the development situation in the foreign markets.
Edited by laura in Ikon Group