Reuters Poll: Fed to raise policy rate by 25 basis points in March

76 of 82 economists polled by Reuters said that they expect the US Federal Reserve (Fed) to raise its policy rate by 25 basis points to the range of 4.75-5% following the March FOMC meeting. 5 economists expected the US central bank to hold its key rate unchanged while one saw a rate cut.

Moreover, the majority of participants noted that they see the fed funds rate reaching 5-5.25% in the second quarter.

Market reaction

This headline doesn't seem to be having a significant impact on the US Dollar's performance against its major rivals. As of writing, the US Dollar Index was down 0.22% on the day at 104.20.