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14th December 2017
FED raises rates for third time in 2017

The Federal Reserve has, for the third time this year, raised the US interest rate by a quarter percentage point to 1.25 -1.5 per cent. Whilst the hike itself had been broadly priced into the market the FED’s indication of another three hikes in 2018 and a further two in 2019 served to put some clarity into the FED communication on the trajectory of short term rates. Markets however took the communication on future hikes as overly dovish which saw the dollar and sovereign bond yields fall in overnight Asian trading.