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Fed on course for next rate hike in June

The Fed was never likely to signal a major shift in policy at the conclusion of the FOMC meeting today, with the fed funds target range left unchanged at 1.5% to 1.75% and the accompanying statement little different from the one issued in March. Regardless, officials remain on course to raise rates again in June and we expect two further 25bp rate hikes in the second half of this year.

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