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Published on Wednesday, March 18, 2015 | Updated on Friday, March 20, 2015

U.S. | FOMC Statement: March 17th – 18th

FOMC Drops “Patient”, First Rate Hike Unlikely in April. The FOMC removed “patient” but ensured that no decision has been made on timing. Revised projections hint at more pessimistic growth outlook and slower pace of rate hikes. Our expectations remain for the first rate hike in September, closing out 2015 at 0.5%