First published: Nikkei Asian Review, 18/09/2015
Spurring frenetic speculation in the days before, the U.S. Federal Reserve left its policy rate unchanged at Thursday’s meeting of the Federal Open Market Committee in Washington. Markets still expect a rise in policy rates before the end of the year, which would herald a restrained tightening cycle through to the end of 2017.
But the focus this week had been on whether the Fed, having encouraged expectations of a rate hike in September, would have a change of heart following new concerns about a slowing global economy and sluggish Chinese growth in particular. And it did….Read more: