The Federal Reserve "holds its ground" and the RMB intermediate price has risen by 318 points.2019-01-31 10:25:29 135 ℃
Up to publication, offshore RMB was 6.7067 against US dollar and onshore RMB was 6.6941 against US dollar. At 3 a.m. Beijing time on January 31, the Federal Reserve issued a statement after its two-day monetary policy meeting that it kept the target range of the Federal Fund Interest Rate unchanged from 2.25% to 2.5%, in line with market expectations. The statement of the resolution
has changed greatly since 2018. Not only will the description of the U.S. economy throughout 2018 be changed from "strong" to "solid", but it also acknowledges that "market-based inflation expectations have declined". The statement said that according to the current economic situation, the Federal Reserve decided to take a "patient" attitude when adjusting the federal funds rate in the future to achieve the best results. Compared with the statement issued after the last monetary policy meeting, the Federal Reserve deleted the expression of "further incremental interest rate hike" in this statement. Since December 2015, the Federal Reserve has raised interest rates nine times and initiated a balance sheet reduction plan to gradually withdraw from the ultra-loose monetary policy introduced after the financial crisis. In December, Fed officials expected to raise interest rates twice this year. Following the announcement of the resolution on
interest rates, the US dollar index fell sharply in the short term, while the major non-US currencies rose.
Regarding the future trend of RMB exchange rate, Wang Youxin, a researcher at the Institute of International Finance of the Bank of China, said that the current round of RMB exchange rate strengthening is not absolute strength, but relative strength, not because of the domestic economic fundamentals, but because of the rapid deterioration of the external environment. < strong > It is expected that the exchange rate of RMB will fluctuate in the first half of 2019 and recover steadily in the second half of 2019. Wang Qing, chief macro-analyst of Jincheng Oriental, said that in 2019, monetary policy will put more emphasis on "self-centeredness". The counter-cyclical adjustment of monetary policy will be given priority, and the RMB exchange rate will remain moderately flexible. To be sure, with a view to stabilizing expectations and finances, the central bank will continue to implement various counter-cyclical adjustment measures to curb the "herding effect" in the foreign exchange market, while cross-border fund management as the "last line of defence" will ensure that the fluctuation of the RMB exchange rate is within the controllable range. (Mid-New Zealand longitude and latitude APP)
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