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The US Federal Reserve’s (Fed) Federal Open Market Committee left rates unchanged at two per cent it was announced over night.
According to the Fed, an increase in consumer confidence helped bolster the US economy. However tight credit conditions, the ongoing housing contraction, and the rise in energy prices were likely to weigh on the country’s economic growth over the next few quarters.
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These factors attributed to the decision to leave rates on hold.
Published: 26-06-08
