FOMC decides unanimously to leave rates unchanged. Minor reduction in purchases of agency bonds does not signal policy shift. Very few changes to growth and inflation outlook. The committee still expects to keep rates exceptionally low for an extended period. No change to our forecast. No hikes before Q4 next year. Details With Fed officials providing new economic projections to the FOMC and the Q4 version of the Senior Loan Officer Survey probably to hand, the meeting will have seen few

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FOMC decides unanimously to leave rates unchanged. Minor reduction in purchases of agency bonds does not signal policy shift. Very few changes to growth and inflation outlook. The committee still expects to keep rates exceptionally low for an extended period. No change to our forecast. No hikes before Q4 next year. Details With Fed officials providing new economic projections to the FOMC and the Q4 version of the Senior Loan Officer Survey probably to hand, the meeting will have seen few

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The Fed voted unanimously to leave interest rates unchanged at today's policy meeting. The FOMC purchased only 175bln of agency debt. This was less than the expected 200bln previously announced. The reduced amount of agency debt purchases reflects limited availability.   The Fed says economic activity has picked up and household spending appears to be expanding but economic activity will remain weak for a time. Household spending is constrained by the jobs outlook and tight credit

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After the FED left rates low for an extended period, due to high unemployment levels and current low inflation, dollar is losing ground quickly against european and commodity currencies. The fact that FED expressed growing confident in the economic recovery, send stocks higher feeding risk appetite: gold reach a fresh historical high at 1097, EUR/USD  hit 1.4900, while GBP/USD reached the 1.6600 level as expected. Japanese yen, the other safe haven, remains however in range between

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The Bank of England (BOE) will hold a policy meeting on Thursday November 5th. At the October policy meeting the BOE elected to maintain the current level of interest rates at a record low 0.5% and asset purchases at £175bln. The BOE indicated that they would keep the scale of the asset purchase plan under review. Two recent UK economic reports generated concern about the outlook for the UK economy and may encourage the BOE to expand its asset purchase plan at the November policy meeting. UK

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