FED : La FED rehausse son taux directeur de 0.25 % de manière unanime, nouvelles projections économiques

 minutes fed

(ProfesseurForex.com) – Donc, la FED prévoit une croissance de 2.1 % cette année et 2.3 % en 2016.

Le PCE (inflation) est attendu en hausse de 0.4 % cette année et 1.7 % l’année prochaine.

Nous pouvons aussi lire que la FED rehaussera ses taux de manière « graduelle », ce qui rend cette hausse des taux « dovish ».

En revanche, au niveau du tableau des « points bleus », nous pouvons voir que les choses n’ont pas beaucoup changé. Nous nous dirigeons toujours vers quatre hausses de taux en 2016. Ce qui est assez hawkish.

Autre chose, nous pouvons lire que l’exit du QE n’est pas pour tout de suite, loin de là. Ce qui assez Dovish.

Tout cela est mitigé mais le marché semble vendre le Dollar…

Voici les nouvelles projections économiques de la FED :

2015-12-16_14-00-48

2015-12-16_14-02-22

Pour mieux comparer:

dot-changes

(La projection médiane pour les taux en 2016 est inchangée à 1.5 %) Le taux directeur a été rehaussé de 0.25 %

Voici la note délivrée par la FED . 

Decisions Regarding Monetary Policy Implementation

The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in itsstatementon December 16, 2015:

  • The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on required and excess reserve balances to 0.50 percent, effective December 17, 2015.
  • As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the following domestic policy directive:1« Effective December 17, 2015, the Federal Open Market Committee directs the Desk to undertake open market operations as necessary to maintain the federal funds rate in a target range of 1/4 to 1/2 percent, including: (1) overnight reverse repurchase operations (and reverse repurchase operations with maturities of more than one day when necessary to accommodate weekend, holiday, or similar trading conventions) at an offering rate of 0.25 percent, in amounts limited only by the value of Treasury securities held outright in the System Open Market Account that are available for such operations and by a per-counterparty limit of $30 billion per day; and (2) term reverse repurchase operations to the extent approved in the resolution on term RRP operations approved by the Committee at its March 17-18, 2015, meeting.The Committee directs the Desk to continue rolling over maturing Treasury securities at auction and to continue reinvesting principal payments on all agency debt and agency mortgage-backed securities in agency mortgage-backed securities. The Committee also directs the Desk to engage in dollar roll and coupon swap transactions as necessary to facilitate settlement of the Federal Reserve’s agency mortgage-backed securities transactions. »More information regarding open market operations may be found on the Federal Reserve Bank of New York’swebsite.
  • In a related action, the Board of Governors of the Federal Reserve System voted unanimously to approve a 1/4 percentage point increase in the discount rate (the primary credit rate) to 1.00 percent, effective December 17, 2015. In taking this action, the Board approved requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Kansas City, Dallas, and San Francisco.

Comparaison avec le précédent communiqué:

us-fomc-text-compare-16-12-2015

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