Fed Funds Projected to Open at 0.15% to 0.17%, ICAP Says

Fed funds, the U.S. overnight inter-bank lending rate, is projected to open at 0.15 percent to 0.17 percent, within the Federal Reserve’s target of zero to 0.25 percent.

Fed funds closed at 0.11 percent on Feb. 1 after trading from 0.1 percent to 0.16 percent and averaging 0.14 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e-mailed statement.

The central bank will acquire $2.75 billion to $3.5 billion of Treasuries maturing from February 2020 to November 2022. The purchases are the part of the Fed’s quantitative easing program aimed at keeping long-term rates low.

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