# Fed expected to hold interest rates steady next month

> Traders kept bets that the Federal Reserve will hold its benchmark rate at 5.25%-5.5% at its next meeting. The view followed July inflation data that rose as expected. Markets still priced nearly even odds of one more rate hike by year-end.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34478-fed-expected-to-hold-interest-rates-steady-next-month
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of higher-for-longer US rates tend to support the dollar and weigh on dollar-denominated commodities, which affects feed input costs for buyers.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-10-30 | [BOT expected to hike key interest rate](https://feedsoft.ai/events/62795-bot-expected-to-hike-key-interest-rate.md) | -0.2% | +0.8% |
| DXY | 2017-09-20 | [Fed holds interest rates and announces normalization of balance sheet next month](https://feedsoft.ai/events/69148-fed-holds-interest-rates-and-announces-normalization-of-balance-sheet-next-month.md) | +1.1% | +1.9% |
| DXY | 2018-06-13 | [Gold erases gains after Fed hikes interest rates](https://feedsoft.ai/events/64440-gold-erases-gains-after-fed-hikes-interest-rates.md) | +1.3% | +0.6% |
| DXY | 2024-03-28 | [The US Dollar Holds Strong as Interest Rate Cuts Are Expected to Be More Gradual in the United States - Desjardins](https://feedsoft.ai/events/31438-the-us-dollar-holds-strong-as-interest-rate-cuts-are-expected-to-be-more.md) | +0.0% | +1.6% |
| DXY | 2017-02-09 | [WSJ Survey: Most Economists Expect Next Fed Rate Increase in June](https://feedsoft.ai/events/72394-wsj-survey-most-economists-expect-next-fed-rate-increase-in-june.md) | +0.1% | +0.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/fed-expected-hold-interest-rates-steady-next-month-2023-08-31/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.