The Federal Open Market Committee (FOMC) of the US Federal Reserve will announce its interest rate decision later today, September 18th. Maybank analysts, in a foreign exchange research and strategy report, stated that market expectations for a 50 basis point rate cut from the Fed have stabilized in the 60%-70% range. However, analysts noted that the FOMC may wish to avoid sending the wrong signal to the market by making a substantial cut, partly because it could induce panic.

Analysts added that market participants will be looking closely to Fed Chair Powell's press conference for nuances in the forward guidance on future rate cuts. (Jin10)