Oxford Economics expects the BOC to raise interest rates in October and December.

Kevin Warsh said he will not disclose details of future Federal Open Market Committee (FOMC) rate decisions or provide forward guidance. He called today’s rate decision careful, serious and responsible, and said the Fed had been preparing and deliberating for about 110–120 days. Warsh said the decision was based on the Fed’s assessment of current conditions, employment trends and economic strength, not driven by market forces. He added that markets sometimes try to anticipate policy and that he watches market prices for information, but today’s decision was made independently.

The Hong Kong Monetary Authority (HKMA) provided HK$2.19 billion in liquidity to banks via its discount window.