Fed funds, the U.S. overnight inter- bank lending rate, is projected to open at 0.16 percent to 0.18 percent, within the Federal Reserve’s target of zero to 0.25 percent.
Fed funds closed at 0.16 percent yesterday after trading from 0.12 percent to 0.19 percent and averaging 0.15 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e- mailed statement.
The central bank will acquire Treasuries $2.75 billion to $3.5 billion Treasuries maturing from May 2020 to February 2023. The purchases are the part of the Fed’s quantitative easing program aimed at keeping long-term rates low.
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