21-12-2016
Weekly comment MM Prime TFI - December 19, 2016
After a revision of the monetary policy by the ECB, it was time for a long – awaited meeting of the FOMC. It took place last week and aroused a lot of market emotions. In line with market consensus, the interest rates were raised by 25 basis points. Nevertheless, the Fed announced another three hikes in 2017 (each of them by 25 basis points). The message turned out to be more hawkish than expected. As a result, dollar once again appreciated against other currencies. It should be noted that the Fed also tightened the monetary policy in December 2015 – it was the first hawkish decision for nine years. Moreover, another three or four interest rates hikes in 2016 were announced.