Bloomberg News

Fed Funds Projected to Open at 0.16% to 0.18%, ICAP Says

March 05, 2013

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.

To contact the reporter on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net


Reviving Keynes
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus