FX Daily Update : September 18, 2014
The National Bank of Canada | Sep 19, 2014 05:24AM ET
There was a lot of volatility yesterday after the Federal Open Market Committee’s key rate decision. During her press conference, Chair Janet Yellen mentioned that inflation remained below target levels, and that the economy was growing at a moderate clip. The key rate is not slated to be raised before a "considerable time," while the bond-buying program will end in October. The last key rate hike took place in 2006, and the key rate has been at this level since December 2008. The voting members of the FOMC are forecasting a key rate hike i J 2015 d thi i it f i i th th tl kd df th t f 2014 d f 2015 in June 2015, and this in spite of revising the growth outlook downwards for the rest of and for 2015.
Markets are following the situation in Scotland closely. Voting will take place tomorrow, and the result will be announced Friday morning. Polls are currently pointing to a very close win by the No side.
The IPO of Chinese giant Alibaba will also be of interest to investors. The share price will be set today, and the security will begin trading on Friday.
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