“We’re closely monitoring economic indicators,” Powell said, making clear the central bank stands ready to shift course if conditions change. The dollar index jumped 0.5% right after the announcement, catching some currency traders off guard who’d positioned for a more dovish tone. Bank of England Governor Andrew Bailey is watching dollar moves carefully as the pound’s recent weakness could complicate the UK’s inflation fight. Analysts are reassessing price targets as currency moves could shift global trade flows in coming weeks. Until the March meeting, traders will dissect economic data releases for clues about whether the central bank might shift course.