Today's Rates 07-28-15
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|Fed expected to push ahead with rate hike plan|
The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September. The U.S. central bank is scheduled to issue its latest policy statement at 2 p.m. EDT following a two-day meeting, spelling out how policymakers feel the economy has progressed since they last met in June. Earlier this year the Fed embraced a meeting-by-meeting approach on the timing of what will be its first rate hike since June 2006, making such a decision solely dependent on incoming economic data.
|Asia stocks edge up, markets hushed for Fed|
Asian shares clung to modest gains on Wednesday on hopes that Beijing could stem the rout in its markets without damage to the economy, while caution ruled elsewhere ahead of a policy decision from the U.S. Federal Reserve. The major European markets were also expected to open higher, while the calmer mood prompted a bounce in some hard-beaten commodities including copper. The steadier tone was enough to lift Australia's main index 0.9 percent, while MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent.