No nasty surprises for the US markets from Federal Reserve. As expected, the US Central Bank exited yesterday the cost of money stopped at a range between 0 and 0,25%, the all-time low it had been brought to in December 2008.
The decision was taken at the end of the first 2013 meeting of the FOMC, the Fed's monetary committee, which began yesterday. The press conference of the chairman of the Fed, Ben Bernanke, is not scheduled, and the estimates on the trend of the economy, which are instead scheduled at the end of the next meeting of the FOMC, on 19 and 20 March, will not be updated.
The Fed has confirmed that interest rates will remain "exceptionally low" until the unemployment rate drops to 6,5% and has assured that it will keep its economic aid plan unchanged with the purchase of 85 billions of dollars a month of mortgage-related securities and debt securities.
