The press conference was actually more interesting than the decision itself, which was widely expected and well telegraphed by the Federal Reserve, but the chairman insisted on two elements which are worthy of attention.
Second rate rise since December 2015
Fiscal expansion will come too late
Fed rate hike would strengthen dollar vs the yen
Growth is hard to come by as the global economic backdrop remains subdued, particularly in Europe, writes Crux Asset Management's Roland Grender.
Growth and inflation forecasts revised up
Mixed economic data from the US this year, as well as increased global risks, has led to a deferral in this year's much awaited interest rate rise, writes Fatima Luis, a portfolio manager and analyst at Mirabaud Asset Management.
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