US Federal Reserve Chairman Jerome Powell said that the country may reduce the benchmark interest rate in 2024. This was reported by TASS.
“We believe our interest rates are probably at their peak, and if the overall economy performs as expected, we think it would seem appropriate to begin a downward policy at some point this year,” Powell said.
Natalya Milchakova, formerly a leading analyst at Freedom Finance Global reportedIt was stated that the ruble continued to lose value this week and lost 1.5 percent of its value against the dollar. Next week the dollar rate will be between 88 and 90 rubles. The analyst stated that the most important event in the foreign exchange market next week will be the Federal Reserve’s interest rate corridor decision and this decision will be announced on January 31. Experts said they expect interest rates to remain at current levels.
According to Milchakova, important information about the labor market in the USA will emerge at the end of next week. Against the background of this news, the dollar may fall – then the ruble will have a chance to strengthen.
Former financial analyst announced the prediction Dollar exchange rate for next month.