FOMC to add me­dian val­ues to in­ter­est-rate pro­jec­tions

The Pak Banker - - COMPANIES/BOSS -

The Fed­eral Open Mar­ket Com­mit­tee plans to add me­dian val­ues for quar­terly pro­jec­tions on in­ter­est rates and eco­nomic data, ac­cord­ing to min­utes of the July 28-29 meet­ing.

The mid­point val­ues, pro­posed by a com­mu­ni­ca­tions sub­com­mit­tee, would "pro­vide a more ro­bust sum­mary mea­sure" of the Fed­eral Open Mar­ket Com­mit­tee par­tic­i­pants' views, the re­port said.

The com­mit­tee unan­i­mously sup­ported the idea, though stressed the me­di­ans shouldn't be viewed as a col­lec­tive com­mit­tee forecast.

In June, Fed­eral Re­serve of­fi­cials main­tained their forecast for the bench­mark in­ter­est rate at the end of this year while cut­ting it for 2016.

The fed­eral funds rate will be 0.625 per­cent at the end of 2015, ac­cord­ing to the me­dian es­ti­mate in the quar­terly Sum­mary of Eco­nomic Pro­jec­tions.

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