FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Inflation: raising interest rates was never the right medicine 
Why the Bank of England is now more upbeat than the IMF 
Inflation: I've been analysing the Bank of England's forecast over the past two years – here's how they got it wrong 
Governments have been able to overrule the Reserve Bank for 80 years. Why stop now? 
The yen plunges to 34-year low despite interest rate hike 
As treasurer, Bill Hayden set Labor on the path to economic rationalism 
The RBA has kept interest rates on hold. Here's why it'll be cautious from here on 
The Federal Reserve held off hiking interest rates 
The U.S. Federal Reserve is in a hawkish mode. Since December 2015, the U.S. Federal Reserve has hiked rates eight times. It has hiked rates thrice this year in unanimous voting and forecasted one more hike over the remaining two meetings of the year.
FOMC will announce its November monetary policy decision today at 18:00 GMT.
The focus will be on the followings –
- Policy decision –Most of the analysts and economists don’t expect the Fed to increase interest rates by 25 basis points. It is likely to be stored for the December meeting. The market is pricing a 7.2 percent chance of a rate hike at today’s meeting.
- FED’s monetary policy statement – With rate hike not on the card, and with no projections, all the focus will be on the statement.
- Press Conference: No Press conference is scheduled.
With no hikes expected at today’s meeting, and with no conference scheduled, it is likely to be a non-event. However, position shifting at the time might add volatility to the market.
The dollar index is currently trading at 96.18, up 0.2 percent for the day, so far. S&P500 is currently trading at 2800 area, down 0.5 percent for the day so far.
