United States Federal Reserve Board (Fed Federal Reserve, hereinafter referred to as) Wednesday's decision to continue to maintain the official interest rate in a near-zero level, but hinted that United States economic situation more stable than before, and further confirmed in this field the recession has ended or will soon end.
Fed said that from now on available information, the United States economy is stabilised.
But Fed officials on the description of the economic situation is not optimistic, this indicates the Fed interest rates remain unchanged for the time may be longer than the market expected.
In fact, the Fed on the description of the economic situation essentially similar to the policy statement of 6 months, the members listed a series of economic pressure, including domestic expenditure restraint, unemployment, income growth, reduced household wealth, as well as the credit crunch.
Said in a statement, family expenses continue to show signs of stabilisation, but still overall expenditures.
Morgan (JPMorgan Chase) economists fee luoli (Michael Feroli) said that the Federal open market Committee (Federal Open Market Committee, hereinafter referred to as FOMC) on economic growth situation improvement in the description so limited, so that he was surprised.
Fed still the momentum for economic recovery, cautious and stated that, in order to ensure a smooth transition of the bond market, Treasury bonds will slow down 3,000 billion purchase scheme promoting speed. Market in general it is expected that this non-conventional assistance program will end in September. Current Fed plan to the project until the month of October.
Fed officials said in a statement, the Committee decided to gradually slow down the national debt purchase speed, it is estimated that by the end of October will be implementation plan to purchase.
In addition, the Fed officials no rate hike for considering.
FOMC to 10 votes in favour, 0 against the results of the federal funds target rate maintained at 0-0.25% range, and that, for some time and will continue to raise interest rates remain at low levels.
After the release of the FOMC policy statement that the Committee members are still expected future economic situation will enable the federal funds rate over a period of time will still be maintained in the exceptional low.
Fee luoli said that judging from the policy statement, the Fed does not intend to start in the next few months the interest rate.
United States Department of Commerce (Commerce Department) recently published data show that the second quarter of the United States economic downturn 1.0%, but decreased in the past nine months minimum.
Economic data improvement led to many economists raised on United States economic growth expectations. Goldman Sachs (Goldman Sachs) in the second half of the United States economy is expected to reach 3% increase. There are also some economists even think that recently published data prove that 20 months of economic recession has ended in June. (Wall Street Journal)
The Hong Kong Monetary interest rates remain unchanged, following the Fed's decision
Hong Kong (Hong Kong Monetary Authority, hereinafter referred to as: the Hong Kong Monetary Authority) on Thursday will base rate maintained at 0.50%, followed by United States Federal open market Committee (Federal Open Market Committee, hereinafter referred to as FOMC) maintains the federal funds target rate unchanged.
Dollar exchange rate of the monetary policy and monetary policy in the United States, and thus linked with the Hong Kong typically United States Federal Reserve Board (Fed Federal Reserve, the abbreviation) of the rate adjustment.
Place prior to this commitment will ensure that the basic interest rate than the United States the federal funds rate 0.5 percentage points. Basic interest rate is the HKMA through discount Windows to remove the local bank to overnight the reference rate.
But Hong Kong local bank may decide whether or not the HKMA's interest rate decision to adjust the respective deposit and loan interest rates.
The FOMC voted on the eve of the federal funds target rate maintained at 0-0.25% of interval.
Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority (Joseph Yam) told reporters that the United States economic recovery may take a long time.
He said the United States of consumption is still very weak, the unemployment rate is very high, especially large fiscal deficits, and the scale of the financial system is still a need for Government support.
He also claimed that the place will pay close attention to the United States and the European Central Bank exit strategy would have on the global financial system of any effect.
About inflation
The Fed statement: inflation will remain for a long time to maintain a low level
【 Comments 】 fed continue to maintain a near-zero, which means that the United States will continue to implement stringent monetary policy, since the United States special economic status, but also lead to a global Central Bank monetary policy to follow, the Hong Kong Monetary Authority has announced immediately follow the Fed interest rate policy. The global monetary liquidity ample environment will not change, just experienced a crash of A unit 8.12 might be a good news. As for inflation, the Fed said "will go through a period of low level" then we will believe it.
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