Federal Funds Rate forecast to remain at 0.25%

NEW YORK (Forex News Now) – The US Federal Reserve is set to determine the interest rate on Tuesday, in a major realtime forex news event.

The central bank is expected to keep the federal funds rate at 0.25%, the mark at which it has remained since the rate was lowered from 1.00% in December 2008.

The bank is scheduled to announce its decision at 7:15 P.M., GMT; as such the data is likely to affect currency market trading late in the day.

It will be accompanied by a statement from the Federal Open Market Committee, the primary tool the committee uses to explain its monetary policy.