EziaNews
Fed: We won’t increase ultra-low interest rates until late 2014
[26 January 2012, CITY A.M.] On 26 January, Tim Wallace writing on CITY A.M. reported that the global economy is so weak and US growth so anaemic that interest rates are unlikely to rise until late 2014, the Federal Reserve announced last night. Markets rose on the “highly accommodative” policy announcement, buoyed by the promise of cheap money for years to come. The Dow Jones rose 0.38 per cent, the Standard & Poor’s 100 jumped 0.53 per cent, and gold broke the $1,700 mark, rising 2.14 per cent in the day.
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