Fed opens door to further asset purchases

fed

The Federal Open Market Committee (FOMC) yesterday held interest rates steady but made clear that it was not ruling out embarking on a third round of quantitative easing (QE).

"The committee is prepared to increase or reduce the pace of its purchases to maintain appropriate policy accommodation as the outlook for the labour market or inflation changes," it said.

In previous statements, the FOMC has only stated that the size, pace and composition of its purchases will take into account the

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