Markets Await Fed’s Interest Rate Decision

The Federal Reserve’s long-awaited interest rate decision has been announced, with the policy rate remaining unchanged for the fifth consecutive meeting. The decision to keep the rate constant was made unanimously, according to a statement released by the Fed.

In its statement, the Fed noted that economic indicators point to a strong economic expansion. The employment market was described as robust, with low unemployment rates. However, the statement also highlighted that while inflation had decreased over the past year, it still remained at high levels.

Following the announcement of the interest rate decision, the price of gold saw an increase, with the ounce of gold rising to $2,175 from $2,157. Similarly, gram gold prices also moved upward to 2,260 TL.

The Euro/dollar parity also rose to 1.08883 after the Fed’s decision.

Since March 2022, the Federal Reserve has increased interest rates 11 times, totaling an increase of 525 basis points. This series of interest rate hikes comes after the completion of the USA’s asset purchase operation in 2022, as the country seeks to combat high inflation. As a result of these decisions, the policy rate has reached the range of 5.25-5.50 percent, the highest level since 2001.

 

This message was taken from this source and rewritten by artificial intelligence.