US Fed FOMC to Decide on 25bp Rate Hike with 92.5% Probability

The US Federal Open Market Committee (FOMC) will announce its key interest rate decision and economic outlook at 3 AM KST on March 17. Markets are reflecting a 92.5% probability of a 25bp (0.25 percentage point) increase, according to PANews reporting on March 16. The FOMC announcement will be followed by a monetary policy press conference by Federal Reserve Chair Kevin Warsh thirty minutes later. PANews notes that market focus has shifted from whether rates will rise to how many additional hikes may follow, with the new dot plot expected to provide key insight into whether this move is a one-time adjustment or the start of a series of increases.