US FED* policy meet : *raises key rate by 0.25%* to new range of 0.75-1%, decision reflects eco progress.

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🇺🇸 *US FED* policy meet :
✓ *raises key rate by 0.25%* to new range of 0.75-1%, decision reflects eco progress.
✓ *third rate hike* since Dec'15
✓ *Forecast of 2 more hikes in 2017*(total 3), *3 hikes in 2018* & 3.5 hikes in 2019
✓ Near term *risks to eco roughly balanced*
✓ *Eco will warrant gradual rate hikes*
✓ Expect *eco activity to expand at moderate pace* with accommodative policy support.
✓ changes in fiscal policy could change eco outlook.
✓ *inflation moving close to Fed's tgt of 2%* in med term
✓ *Growth forecast largely unchanged  for 2017&19* & raised fr 2018
✓ *Labor mkt cont to strengthen* with *unemployment rate expected to be 4.5%* ovr next 3yrs.
✓ waiting too long to raise rates could mean rapid future hikes.

*Mkts* @ time of FED conf:

• *US dollar & treasury yields fall* ; *stocks rise* along *with Gold* as policy in line with mkt exp.

*US 10yr 2.53(-8bps)*
*USD Index 101*

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