US Fed Re­serve sig­nals rate hike in Septem­ber

Asian Journal - - World -

Washington: The Fed­eral Re­serve, Amer­ica’s cen­tral bank, has de­cided not to raise in­ter­est rates in June, but sig­nalled that the long-awaited rate hike could come in Septem­ber as the eco­nomic ac­tiv­ity picks up. “The com­mit­tee ex­pects that, with ap­pro­pri­ate pol­icy ac­com­mo­da­tion, eco­nomic ac­tiv­ity will ex­pand at a mod­er­ate pace,” the bank known as the Fed said af­ter a two-day pol­icy meet­ing of the Fed­eral Open Mar­ket Com­mit­tee. But the com­mit­tee low­ered its pro­jec­tions for eco­nomic growth sig­nif­i­cantly. In March, com­mit­tee mem­bers pro­jected 2015 growth would be be­tween 2.3 per­cent and 2.7 per­cent.

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