Market Comment|After uneventful FOMC, market's positive tone deflates ahead of BoJ meeting

Summary

Fed uses July statement to re-prime the policy normalization pump. Unprecedented for a tightening cycle, Fed delays rate increase for 5th consecutive meeting. Improvements in domestic conditions move committee closer to resuming normalization. Uncertainty and U.S. elections will complicate possibility of rate increases in September (see). As was expected, the FOMC maintained the recent stance […]

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