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Will there be a Fed rate hike in 2H15?
A June rate hike is unlikely, but possible.
Policy-makers believe that the US economy will resume moderate expansion after the first-quarter slowdown.
According to SGX, FOMC minutes suggest a June rate hike is unlikely, but “did not rule out this possibility”; conditions for rate increase hinge on “further improvement” in labour market and confidence that inflation would return to 2% goal over the medium term.
SGX says that most policy-makers saw the need to make the decision on a meeting-by-meeting basis, based on available data and outlook.
Policy-makers also attribute most of the US economy’s weakness to “partly or even largely transitory” factors.
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