"The Federal Reserve held its interest rate target steady on Wednesday, saying that it did not anticipate rate reductions in the near future.“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” the Fed said in a statement released at the conclusion of its two-day monetary policy meeting.Financial markets had been pricing in around a forty-percent chance that the Fed would cut its interest rate target at its next meeting in March and a near certainty that the target would be lower by May. Markets have been pricing in five or six cuts this year.The Fed’s statement appears to be aimed at pushing the markets off those views. In particular, it is likely meant to send the message that the Fed does not expect to cut interest rates at its next meeting in March.The statement also challenges the assertion by many economists, particularly those associated with Democrat politics and the American left, that the war against inflation has already been won." - Breitbart
And I suspect many central banks, including our own, will take their cue from that.
