Yeliz Akmaca 
Investors around the world were focused today on the interest rate decision of the US Federal Reserve (FED). This meeting, one of the most critical moments in the economic calendar, did not lead to a major surprise in the markets: The FED kept the policy rate steady at the 4.25%–4.50% range. The FED revised its interest rate projections to 3.9% for the end of 2025, 3.6% for the end of 2026, and 3.4% for the end of 2027.
FED Expectations
In light of recent inflation and employment data, the markets had been receiving strong signals that the FED might hold rates steady at this meeting. These expectations were confirmed. The current rate was 4.50%, and the announced rate remained unchanged in line with forecasts.
FED Chair Jerome Powell is set to hold a press conference following the decision. While reaffirming the commitment to combating inflation, Powell also provided significant signals regarding the upcoming period. According to the Fed’s calendar, the next FOMC meeting will be held on July 29-30. Following the decision, Bitcoin was trading at $104,400. Brent Crude hovered around $76.45 per barrel.
Global Impact and Future Expectations
The FED’s interest rate decision affects not just the US but the entire global economy. Additionally, today the Euro Area’s Annual Consumer Price Index (CPI) was announced at 1.9% (Forecast: 1.9%, Previous: 2.2%). While volatility increased in European and Asian markets following the decision, investors will closely follow upcoming economic data and guidance from FED officials. Market fluctuations may continue until the next FED meeting. In particular, inflation and unemployment data will become even more critical during this period.
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