Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
The Federal Reserve dialed up its growth expectations slightly while keeping its inflation projection unchanged.Marketsread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided, with three officials voting against the Fed's quarter-point cut to the fed funds target rate range.Market Insiderread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
(Adds analyst comment, updates prices, changes dateline from SINGAPORE)
LONDON, July 12 (Reuters) - Nickel prices touched their highest in three months on Friday on worries that major producer Indonesia will resume an export ban on ore in 2022.
Indonesia relaxed the ban on nickel ore in 2017, but said at the time that it would last only five years and that exports would be restricted again in 2022.
Analyst Colin Hamilton at BMO Capital Markets in London said many people had been sceptical that the full ban would be reimposed, and a media report about sticking to the ban in 2022 created jitters in the market.
"Of course that wouldn't affect today's availability, but we've always been heavily dependent on Indonesia in this nickel market," Hamilton said.
"If we were to see Indonesia restrict availability of their ore then it would tighten the market quicker than we're factoring in."
Most analysts expect rising demand for nickel in electric vehicles to create shortages in coming years.
Benchmark nickel on the London Metal Exchange was up 1.3% at $13,300 a tonne by 1100 GMT after earlier hitting $13,325, the strongest since April 8.
* COPPER IMPORTS: Chinese imports of unwrought copper fell 27.2% year on year in June as a slowdown in the world's second-biggest economy continued to weigh on demand for the metal. Shipments of ores and concentrates slid 16.5%, data showed.
"That probably reflects availability more than anything else. Just look at the Chilean and Peruvian (mine output) data," said Hamilton, referring to the fall in ore imports.
"There's no tightness at the refined end of the market yet, but there's a raw material constraint and you'd expect it to flow through the chain eventually."
* CHINA TRADE: Also weighing on the metals market was disappointing wider trade data from top metals consumer China.
China's overall exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further weakness in the world's second-largest economy and slackening global growth.
* TRADE WAR: U.S. President Donald Trump said China was not living up to promises it made on buying agricultural products from American farmers, as the world's two largest economies work to resolve a trade dispute.
* PRICES: Three-month LME copper rose 0.3% to $5,971 a tonne, the highest since July 1. Aluminium fell 0.6% to $1,818 a tonne, zinc fell 0.3% to $2,422, lead edged down 0.03% to $1,972 and tin shed 0.6% to $18,235.
* For the top stories in metals and other news, click or
(Reporting by Eric Onstad; Editing by Jan Harvey)