Bloomberg News

Fed Funds Projected to Open at 0.12% to 0.17%, ICAP Says

April 09, 2012

Fed funds, the U.S. overnight inter-bank lending rate, is projected to open in a range of 0.12 percent to 0.17 percent, within the Federal Reserve’s target of zero to 0.25 percent.

Fed funds closed at 0.15 percent on April 6 after trading from 0.08 percent to 0.15 percent and averaging 0.11 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e-mailed statement. ICAP’s monthly average is 0.138 percent.

The central bank will sell as much as $1.5 billion of Treasury Inflation Protected Securities maturing from July 2012 to January 2015. The operation is part of the Fed’s program to replace $400 billion of short-term debt in its portfolio with longer-term Treasuries to keep long-term borrowing costs low.

To contact the reporter on this story: Dennis Fitzgerald in New York at dfitzgerald5@bloomberg.net

To contact the editor responsible for this story: Paul Cox at pcox16@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus