31 Jul 2013
Flash: All eyes on FOMC statement - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists are not expecting any changes inpolicy but think that the Fed will stay on track to start tapering in September despite more dovish comments from chairman Bernanke recently.
Key Quotes
“The statement could include more direct guidance on the timing and pace of tapering than the current ‘substantial improvement’ in the labour market.”
“We expect such a change to indicate that if labour market improvement continues at the current pace, tapering will start this year.”
“We expect GDP growth to print only a modest 0.8% q/q AR”
“We will also get the so-called comprehensive revision of the national accounts data. This includes revisions to GDP back to 2009 and substantive changes in concepts, definitions and classifications. These changes should boost the level of GDP by 3% but not necessarily change
growth rates.”
Key Quotes
“The statement could include more direct guidance on the timing and pace of tapering than the current ‘substantial improvement’ in the labour market.”
“We expect such a change to indicate that if labour market improvement continues at the current pace, tapering will start this year.”
“We expect GDP growth to print only a modest 0.8% q/q AR”
“We will also get the so-called comprehensive revision of the national accounts data. This includes revisions to GDP back to 2009 and substantive changes in concepts, definitions and classifications. These changes should boost the level of GDP by 3% but not necessarily change
growth rates.”