TOKYO (Reuters) - Asian shares rose modestly on Tuesday, with technology stocks nosing ahead, while the dollar held its ground ahead of a Federal Reserve policy meeting expected to reiterate a pledge to keep rates low for a long time.
WASHINGTON — The Federal Reserve on Wednesday opened the door further for an interest rate hike as early as June, ending its pledge to be “patient” in normalizing monetary policy.
But the U.S. central bank signaled a more cautious outlook for U.S. economic growth and slashed its projected interest rate path, in a sign that it remains concerned about the health of the recovery.
Washington (AFP) - The Federal Reserve dropped its pledge to remain "patient" on raising interest rates Wednesday, signaling a possible midyear fed funds rate hike after over six years at the zero level.
WASHINGTON — The U.S. Federal Reserve said on Wednesday the economy continues to recover but is still in need of support, offering no indication that a reduction in the pace of its bond-buying stimulus program is imminent.
For now, the Fed will keep on buying US$85-billion in mortgage and Treasury securities per month in its ongoing effort to bolster an economy still challenged by federal budget-tightening and weak growth overseas.
LONDON: Gold edged higher on Friday after two days of losses, but prices held in a narrow range ahead of key US nonfarm payrolls data, which will be closely watched for further clues on the timing of an expected US rate rise. A recent run of mixed economic data has pushed earlier expectations for the Federal Reserve to announce a rate rise at its June policy meeting back to later this year. A strong jobs report would support the view that the Fed will act sooner rather than later, pressuring gold.
LONDON: Gold steadied on Wednesday, holding above $1,200 an ounce as the dollar retreated and expectations grew that the Federal Reserve could delay an anticipated US rate rise to next year. The Fed will release the minutes of its March policy meeting later in the day and traders will scrutinise it for any concerns from policymakers about US economic growth. Spot gold was unchanged at $1,207.07 an ounce by 1147 GMT. Bullion climbed to its highest level since Feb. 17 at $1,224.10 on Monday, after weaker-than-expected US nonfarm payrolls cooled prospects of an earlier interest rate move.
HONG KONG (Reuters) - The dollar held firm on Tuesday against major currencies, and hit a two-month high against the yen, while Asian shares edged up as technology stocks tracked a rally in their peers on Wall Street.