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Policy Rate Updates: Is the US Fed done with hiking rates?
Headline inflation in the US will likely continue to go down, though at still elevated levels. For the rest of the year, we see the US Fed holding rates steady.
By Patty Membrebe and Geraldine Wambangco
In a widely anticipated move, the US Federal Reserve kept policy rates unchanged at 5.25% to 5.50%, reiterating that it will continue to consider the next slate of economic data in assessing the need for further rate hikes.
Following the Federal Open Market Committee (FOMC) meeting, the US dollar traded lower, US yields retreated, and US equities saw gains, as markets took cues from Fed Chair Jerome Powell’s less hawkish signals, forecasting that the Fed is done hiking rates.
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Policy Rate Updates (November 3, 2023)
We retain our base case that the US Fed will hold rates steady.
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