US Fed opens 2-day meeting, rate cut expected

MG News | July 30, 2019 at 07:55 PM GMT+05:00

0:00

Jul 30, 2019: The Federal Reserve opened its two-day policy meeting on Tuesday, poised to cut the key US lending rate for the first time in more than a decade amid rising economic uncertainties.

The Federal Open Market Committee raised the benchmark interest rate four times last year but has signaled that it will backtrack given worrying signs in the United States and major trading partners.

A Federal Reserve spokesperson said, "The FOMC meeting began at 10:00 a.m. EDT as scheduled."

Moments earlier, President Donald Trump continued his high-pressure campaign, telling reporters he wants to see a "large cut" by the Fed.

AFP/APP

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,298.84 399.70M	-0.78% -1291.57
ALLSHR	99,409.75 958.95M	-0.91% -917.67
KSE30	49,817.39 130.42M	-0.78% -392.42
KMI30	237,916.37 74.34M	-0.22% -515.77
KMIALLSHR	65,587.08 458.74M	-0.67% -439.28
BKTi	45,701.61 68.75M	-2.09% -976.41
OGTi	32,622.17 12.15M	-0.38% -123.99

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	111,380.00	111,845.00 109,820.00	960.00 0.87%
BRENT CRUDE	66.13	66.30 65.41	0.14 0.21%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.05 -1.29%
ROTTERDAM COAL MONTHLY	92.60	0.00 0.00	0.10 0.11%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	61.91	62.13 61.21	0.12 0.19%
SUGAR #11 WORLD	15.09	15.34 15.08	-0.20 -1.31%