Economic Information Daily, October 16 - Federal Reserve Chair Yellen spoke at the International Monetary Fund (IMF) annual meeting in Bangkok on Friday. The Fed will hold its interest rate meeting on the 27th and 28th of this month, and there is significant market attention on Yellen's remarks, hoping to glean signals about a potential rate hike. However, Yellen was quite tight-lipped, stating, 'I won't prejudge the outcome of the meeting, nor do I advocate stating now what I might do at the upcoming meeting.'
Yellen did not address the cooling market expectations for a rate hike at this month's meeting. He also refrained from discussing monetary policy or his outlook for the U.S. economy, merely reiterating the Fed's commitment to achieving price stability.
After Yellen's speech, the probability of a rate hike this month dropped from around 27% to below 15%.
Derek Tang, economist at Monetary Policy Analytics, said: 'Clearly, he won't make any statements that could be interpreted as hawkish.' (yc)
Yellen did not address the cooling market expectations for a rate hike at this month's meeting. He also refrained from discussing monetary policy or his outlook for the U.S. economy, merely reiterating the Fed's commitment to achieving price stability.
After Yellen's speech, the probability of a rate hike this month dropped from around 27% to below 15%.
Derek Tang, economist at Monetary Policy Analytics, said: 'Clearly, he won't make any statements that could be interpreted as hawkish.' (yc)