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All that hype and the Fed stayed put - ING

FXStreet (Guatemala) - Rob Carnell, analyst at ING bank explained that after all the hype and the wait, the Fed has opted to leave rates unchanged at this meeting, leaving the range at 0-25bp.

Key Quotes:

"So the markets were right, just, and in the end, so was the consensus of economists, which changed its mind a few days before the meeting opting marginally for no change."

"There was one dissenter to this decision – Jeffrey Lacker, who voted for a 25bp rate hike. Lacker has been a long-term hawk – so his dissent is not too surprising. Sometimes the Fed does like to send a signal with its dissenters, but on this occasion, one can just as easily imagine that Lacker simply disagreed."

"The dot diagram that was published at the same time as the decision, was nudged down. But only marginally, and it still shows a much more aggressive tightening expectation than the market. But for 2015, 13 of the 17 participants expected rates to rise this year. So October and December are still in the running."

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