It is the day that the Federal Reserve announces its latest monetary policy update. At 1800GMT (remember the US clocks have not gone back yet) the Fed will put out a statement that will once again not include a rate hike. The lack of press conference and staff targets is certainly prohibitive to the committee making such a ground breaking move (despite the FOMC members insisting that all meetings are “live”). The Fed only therefore has the statement to guide markets. Again there may have to be a tweak to the line about international developments but it is unlikely that much will be change from the September ... (full story)