UK inflation fell to the lowest level in over two years in February, helped by falling food prices. GBP/USD is little changed as the latest Fed policy decision nears.
Later today – 18:00 UK – the Federal Reserve will announce their latest monetary policy decision with the US central bank fully expected to leave all policy settings untouched. Chair Powell will also announce the latest dot plot, a visualization of Fed members' thoughts on future interest rate levels. The currentprojections are centered around 4.625%, suggesting three 25 basis points this year.
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