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So FOMC says will 'continue to monitor'.........>

FED
FED: So FOMC says will 'continue to monitor'... Some considered such a change in
language from 'closely monitor' to be slightly hawkish re future moves. Morgan
Stanley noted in their preview that such a change would likely accompany a 50bps
cut:
"will replace 'closely monitor' with 'continue to monitor'...reiterate 'act as
appropriate'. Seems unlikely would retain 'closely monitor' if it delivers a
50bps cut, given that this sized cut should, in theory, go some way to reducing
the downside risks seen in June."
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