The Federal Open Market Committee (FOMC), the body that determines the national monetary policy of the FED, is expected to increase interest rates by 25 basis points at its meeting tomorrow.
The interest rate decision, which also concerns Bitcoin and cryptocurrencies, is generally expected to cause a volatility in the BTC price.
The FOMC holds eight regularly scheduled meetings during the year and further as needed.
In these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and evaluates risks to long-term price stability and sustainable economic growth targets.
The median forecast for the FOMC's rate decision tomorrow is 25 basis points, according to a survey of various financial companies.
- Barclays: 25 basis points. Barclays is a British multinational investment bank and financial services company headquartered in London.
- BMO: 25 basis points. BMO is a Canadian multinational banking and financial services company headquartered in Montreal.
- Bloomberg: 25 basis points. Bloomberg is a global media, data and software company headquartered in New York. It provides financial news, analysis and market data to clients around the world.
- Credit Suisse: 25 basis points. Credit Suisse is a Swiss multinational investment bank and financial services company headquartered in Zurich.
- CIBC: 25 basis points. CIBC is another Canadian multinational banking and financial services company headquartered in Toronto.
- Citi: 25 basis points. Citi is an American multinational investment bank and financial services company headquartered in New York.
- Goldman Sachs: 25 basis points. Goldman Sachs is another American multinational investment bank and financial services company headquartered in New York.
- HSBC: 25 basis points. HSBC is a British multinational banking and financial services holding company headquartered in London.
- JP Morgan: 25 basis points. JP Morgan is another American multinational investment bank and financial services holding company headquartered in New York.
- Morgan Stanley: 25 basis points. Morgan Stanley is another American multinational investment bank and financial services company headquartered in New York.
- TD: 25 basis points. TD is a Canadian multinational banking and financial services company headquartered in Toronto. It is also one of the Big Five banks in Canada.
- Visa: 25 basis points. Visa is an American multinational financial services company headquartered in California. Facilitates electronic funds transfers worldwide, most commonly through Visa-branded credit cards, debit cards, and prepaid cards.
- Wells Fargo: 25 basis points.
*Not investment advice.
