The
probability of the next Federal Reserve rate hike coming by the end of the year
rose to over 60 percent following yesterday's Federal Open Market Committee
statement, which showed that three voting members dissented from the majority
view to hold interest rates unchanged. While the committee recognized that the
case for rising rates had strengthened, it decided to hold of on a hike - for
the time being. If there was some clarity from the Fed, yesterday's Bank of
Japan decision still has investors scratching their heads, wondering exactly
what the bank's target for the yield curve is.
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