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“Such exceptionally low real interest rates are unlikely to be appropriate for an economy with persistently strong consumption growth and tightening labor markets”, Lacker said in a statement.

“We believe at some point in the near future the rate hike cycle needs to begin in order for the Fed to retain its credibility with the markets and to remind investors that rates can not stay at zero forever”.

There were desperate scenes at a railway station on Croatia’s eastern frontier with Serbia, where thousands were left stranded overnight under open skies.

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...

Croatia on Friday began busing thousands of migrants and refugees to its northeastern frontier with Hungary, with at least two coachloads crossing the frontier, an AFP correspondent said.

The summit was called with different purposes in mind, but by the time Balkan leaders reached Austria it was obvious that the refugee situation was more urgent than infrastructure deals. But critics will be disappointed that more decisive action was not taken, given the scale of...

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...

Slovenia Prime Minister Miro Cerar tweated Thursday that his country is committed to protecting the EU’s external borders.

“We are so exhausted”, said Hikmat, a bare-footed 32-year-old Syrian woman from Damascus, after a journey, like many others, by sea and then through the Balkans to the border between the two former Yugoslav republics. They estimate that more than 300,000 have passed...

This was a direct result of Hungary closing its border with Serbia, leaving thousands stranded.

The gauge gained 0.4 per cent to 3,098.29 at the 11:30 a.m. local- time break in volumes 47 per cent below the 30-day average.

The decision came after the refugees and asylum seekers switched routes from Hungary to Croatia after the government in Budapest dramatically increased security at its borders. Stay in refugee centers in Serbia and Macedonia and Greece.

That route may soon close when Hungary completes the razor-wire fence it’s building on its 108-mile border with Serbia.

Numerous refugees and migrants are Syrians and Iraqis fleeing war in their homelands.

Manfred Schmidt was president of Germany’s Federal Office for Refugees and Migrants, or BAMF, an office of the federal government that has come under criticism for not processing applications for asylum quickly enough and for mishandling resettlement of refugees.