Bank of Korea Holds Interest Rates Steady as Weak Won Limits Policy Flexibility 
Canada Stocks Steady as Markets Await Fed and BoC Decisions 
RBNZ Cuts Interest Rates Again as Inflation Cools and Recovery Remains Fragile 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Japan’s Rising Inflation Strengthens Case for a Near-Term BOJ Rate Hike 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
The Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points, lowering the target range to 3.50%-3.75%, following quarter-point cuts at the previous two meetings.
Changes to the policy statement were minor, but a subtle change in the phrasing on future rate hikes indicated a more hawkish stance. The amended phrasing "in considering the extent and timing of additional policy adjustments to the target range" indicates a higher threshold for further easing.
The statement also stated that reserve balances had fallen to appropriate levels, and that the Fed will acquire shorter-term Treasury securities as needed to assure a steady supply of reserves.
Along with the decision, the Fed issued an updated Summary of Economic Projections (SEP), which incorporates the median estimates of individual FOMC panelists..
Nine out of twelve FOMC members backed the decision. Stephen Miran again dissented, arguing for a greater 50-basis-point decrease, while Jeffrey Schmid and Austan Goolsbee voted to keep rates constant. The Fed has not had three dissenting votes in a single meeting since 2019.
