After Wednesday, analysts say the Fed could make one more quarter-point cut this year, at either the Fed's next meeting in late October or its final session in mid-December.
The US Federal Reserve has cut interest rates for the second time since 2008, to a range of 1.75 to 2 percent.
Kuroda also said he now feels more inclined to take easing measures in the future, than he was at the BOJ's previous policy meeting in July.
Yoon Jung-min tells us more. The Fed's key rate influences many consumer and business loans.
Powell's position is complicated by the clear division on the committee: one member, St Louis Fed's James Bullard, wanted an even steeper rate cut, while two others - Kansas City's Esther George and Boston's Eric Rosengren - opposed cutting rates at all, as they did in July. Also, for business investments, rate cut is quite a good news for the US economy and also for the exports.
In economic projections released on Wednesday, Federal Reserve policymakers said they expect the economy to grow 2.2% this year, faster than they forecast in June. Trump said on Twitter: "Jay Powell and the Federal Reserve fail again". Powell reiterated they are not on a preset course, but with the downside risks likely to linger for quite some time, markets should remain confident more rate cuts are on the horizon.
In a buck-stops-over-there-now performance, Powell indicated that the Fed's two rate cuts this year are likely adequate as insurance against the rising global risks posed by Trump's whipsaw trade negotiations with China, and that going forward the Fed sees little need to move unless those risks materialize in the form of weaker USA economic data.
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At a keynote speech at a central bankers conference in Jackson Hole, Wyoming, last month, Powell said the US central bank had "no recent precedents" to set monetary policy when the rules of global trade had become so unpredictable and begun to sap business confidence and depress global growth.
No one anticipates rates to fall below 1.5% in 2020, a sign that the current turbulence from a global slowdown and President Donald Trump's escalation of the trade war with China is viewed as manageable. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. "No 'guts, ' no sense, no vision!" Consumer spending has been solid, but manufacturing has weakened. The Fed seems too optimistic that inflation will return to their target and despite their concerns with growth, they raised their GDP forecast.
Bank of Korea Governor Lee Ju-yeol said the Fed's rate cut happened as the market had predicted.
The Fed's benchmark rate rose to 2.3% on Tuesday, trading outside of its range of 2% to 2.25%, after technical factors and monetary and regulatory changes created shortages of funds for banks. The Fed injected liquidity into the overnight lending market two days in a row after rates spiked.
Three Fed officials dissented from the Fed's decision.
As expected, the BOJ maintained its short-term interest rate target at -0.1% and a pledge to guide 10-year government bond yields around 0% under its yield curve control (YCC) policy.