Market Comment | Fed’s dovish tone dialed down expectations for a rate hike this year
Published on Thursday, March 21, 2019
Market Comment | Fed’s dovish tone dialed down expectations for a rate hike this year
Summary
As expected, yesterday’s FOMC left interest rates unchanged and intensified its dovish stance. In addition, it revised down official projections for 2019 GDP growth and inflation. Following the more dovish Fed tone, US yields declined across the curve and the USD depreciated. However equity markets fell as fears over a snag in US-China trade negotiations unnerved investors
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Authors
Maria Victoria Ramírez
Cristina Varela
BBVA Research - Principal Economist
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