FOMC Summary—An Excess of 35 Questions and 45 Minutes
Central Bank Holds Policy Rate Steady
The central bank opted to keep its policy rate at 3.75%, a move that aligned with widespread expectations. The outlook remains highly dependent on upcoming economic data and future developments. The press conference, which could have been much shorter, was filled with questions that added little new information. In essence, the message was clear: no changes for now, and any future decisions will hinge on additional data. The official statement was concise and to the point.
Similar to the Bank of Canada's announcement earlier in the day, financial markets showed little reaction, as reflected in charts 1–4. Yields on two-year bonds remained stable, and expectations for Federal Reserve rate cuts this year were unchanged, with markets still anticipating two reductions beginning no earlier than June.
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