As widely anticipated, the US Federal Reserve has raised its official funds rate by 25 basis points. The statement released by the Fed suggests that any future rate rise will be gradual which suggests that near term further rises are unlikely and will really depend on economic parameters such as inflation, unemployment and sustained growth of the economy.
As the markets priced in this rate rise, there was not much impact on the Aussie which is trading at 72.21 US cents at 8.30 a.m. US long term treasuries rose with the benchmark 10 year yield rising to 2.3%. Spot gold is also up trading currently at USD 1073.2 per ounce.
As the markets priced in this rate rise, there was not much impact on the Aussie which is trading at 72.21 US cents at 8.30 a.m. US long term treasuries rose with the benchmark 10 year yield rising to 2.3%. Spot gold is also up trading currently at USD 1073.2 per ounce.
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