Trial now
EUROZONE

Timeline of key events (Times BST)

EURGBP TECHS

Remains Vulnerable

GBPUSD TECHS

Bearish Risk Still Present

AUSSIE BONDS

Looking For Cues

JGBS

Supply Provided The Highlight

EURUSD TECHS

Needle Still Points South

MNI Fed Review-December 2020: Fed Keeping Something In Reserve

The December FOMC decision was broadly in line with expectations (and exactly in line with MNI's outlook for a slightly hawkish disappointment), with new asset purchase guidance but no change to the asset purchase program itself.

The Fed looks likely keep policy easy for a long time at current levels, and see the new guidance on asset purchases as adding to accommodation - but are also keeping something in reserve in case the economy deteriorates, rather than seeing any need to act now

Please see the document linked below which includes the MNI View, our Policy Team's review, synopses of 23 sell-side notes, comparisons of the meeting materials vs prior meetings, and a transcript of the Powell Press conference.

FedRev-Dec2020.pdf


MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com