US Federal Reserve’s Two-Day Meeting Begins Today

Markets are trading in a narrow range in anticipation of a statement by central banks this week. The meeting of the US Federal Reserve will be held on July 25-26. Investors do not expect any changes in the monetary policy of the bank while inflation in the US remains low.

The Fed may also signal a readiness to start reducing the balance, although the decision is likely to be made already in September. According to the CME Group, investors estimate the probability of another rate increase this year at 47.3%. The rate hike is awaited at the Fed’s December meeting.

Representative of the Bank of England Andy Haldane will also give a speech today.