After the US presidential election, the US central bank held an FOMC meeting on November 7, where it cut interest rates by 25 basis points, reducing the benchmark interest rate to 4.5-4.75%. The US Dollar Index (DXY) remains stable, and the HUF is also uncertain. Analysts had previously expected a 100 basis point interest rate cut for the American market by 2024.
The Fed’s decision to cut interest rates by 25 basis points has led to a sudden jump in risky asset exchange rates, but the exchange rates have since corrected back to normal levels. The S&P 500 reached a new high of 5,982 after gaining 0.74%, and bitcoin approached $77,000 but failed to break through.
The US central bank has indicated that it will continue to monitor incoming information on the economic outlook, including labor market conditions, inflationary pressures, and financial and international developments. The US Dollar Index (DXY) has increased since Trump’s victory, and the Hungarian forint is still uncertain.
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<p>The post US Central Bank Cuts Interest Rates Forint Finds Uncertainty first appeared on CoinBuzzFeed.</p>
