Forex & Economic Commentary by Lloyds TSB

The turmoil in financial markets is likely to overshadow economic releases today as market participants brace for the Fed FOMC rate decision tonight and the press statement of the Bank’s assessment of events of the last 48 hours in the US banking industry. We expect interest rates to stay on hold at 2.0% but would not be surprised to see a more dovish statement following the weaker set of economic indicators released over the inter-meeting period, capped by yesterday’s report of a 4-year low for industrial capacity.



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