IMF expects Fed to hold QE steady until 2014

Capitol Hill in Washington DC

The Federal Reserve will maintain its asset purchases at a pace of $85 billion each month "until the end of this year", according to the International Monetary Fund's latest Article IV consultation on the United States.

The consultation, released today, said the Fed would only begin gradual tapering of its asset purchase programme in 2014, and called for "effective communication on the exit strategy" to avoid "higher international market volatility".

Christine Lagarde, the IMF managing director,

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