$ 203815662240 623 1299705660 1337304190

This currency total shows the total amount of foreign exchange transacted by HiFX since 2001. To calculate the total on the site, we have taken the total actual audited volumes transacted each year and have added a daily average of our transacted volumes. This number is provided for information purposes only.

Transacted by HiFX

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Aug

2011

FOMC to keep rates low through mid-2013

10 August 2011

The Federal Open Market Committee convened to decide on the Fed’s monetary policy and US interest rate. As expected the FOMC decided to keep the US interest rate unchanged at 0% to 0.25%.

In the meeting there were no hints or suggestions of another quantitative easing plan.The FOMC also stated it anticipates keeping interest rates low at least throughout mid-2013.

The committee expects the US economy to have a slow paced recovery, the unemployment rate will decrease only gradually, but at least the US inflation rate is expected to settle as energy commodities prices have came down.

The decline in the US inflation rate (see below) might have also contributed to this decision to keep US interest rates unchanged.

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Mr Lawrence Alpren

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= 2.0760 NZD

(About this figure)

All figures shown are based on today's Interbank rates. This is the rate at which banks and brokers buy and sell money to each other. Private individuals and small to medium sized businesses cannot access these rates. They are therefore provided for indicative purposes only. For a quote please contact us.

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