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“Recent global economic and financial developments may restrain economic activity somewhat and are likely to put further downward pressure on inflation in the near term”, the Fed said in its statement.

The buck had traded in a narrow range against most of its rivals during the past week as investors waited for the Fed’s decision, even as many expected the central bank to hold off Thursday, said Mark McCormick, global FX strategist based in New York. However, following the...

Higher rates could dent demand for non-interest paying bullion, while boosting the dollar. Prices jumped as much as 1.3 per cent to $US1,133.93, the highest since September 3.

At her news conference, Yellen stressed that even after the first increase from zero, interest rate policy will be “highly accommodative for quite some time”. The two-year Treasury note, which would be more heavily impacted by higher short-term interest rates, had an...

ANNUAL United Kingdom consumer prices index inflation fell back to zero in August, the latest official figures show, underlining the country’s continuing economic challenges.

In a clear reference to the recent turmoil provoked by the downturn in the Chinese economy, the Fed noted that it is “monitoring developments overseas “, even as it said that the risks facing the U.S. economy are still “nearly balanced”. The reason: Unlike...

“For emerging-market central bankers, the Fed has given them some much-needed breathing room”, Jonathan Lewis, a principal at New York-based Samson Capital Advisors LLC, said.

The lower CPI could lead to the Federal Reserve deciding to not raise interest rates this month.

The Federal Reserve’s decision to leave interest rates unchanged as well as its dovish tone are signs that it is time for investors to dump the US dollar in favor of emerging-markets currencies, according to one of Citigroup’s top currency strategists.

Oil traded steady to higher on Tuesday, buoyed by gains on Wall Street that helped prices rebound after a tumble in the previous session, ahead of an industry report that’s expected to show if US crude stockpiles have fallen after weeks of gains.

The cartel has upped its expectation for oil demand growth this year by 84,000 barrels per day to 1.46 mn bpd, but revised its forecast lower for next year by 50,000 bpd to 1.29 mn bpd.

“We can only assume the violent moves we’ll see if the Fed actually raises rates”, Boockvar said.

Heller, who served on the Board of Governors of the Federal Reserve System from 1986 to 1989, is confident the US economy is well positioned to cope with a rise in interest rates from the current 0-0.25 percent.

The Saudi-led oil cartel said daily crude production outside of OPEC is likely to grow by 160,000 barrels next year, a figure 110,000 barrels lower than its estimate last month, largely because USA oil production is slipping faster than expected.

The risk faced by the European Central Bank is very different from that of the Fed, and ECB president Mario Draghi is likely to ease monetary policy further with additional quantitative easing. Almost a decade has passed since the U.S. Central Bank has raised its benchmark...