#Fed in “wait and watch” mood
The US Federal Reserve on Wednesday stuck to its pledge of being “patient” over monetary tightening, keeping its benchmark rate near zero amidst heightened global risks and below-trend #inflation
, a move which may bolster foreign #fund
inflows into emerging markets amid lure for higher yielding assets. While the Fed upgraded its job #market
assessment, it warned that inflation could drop further below the 2 per cent goal as the biggest plunge in #crude
prices since the Great Recession and heightened global financial market volatility prompt the world’s top central bank to delay raising rates for the first time since 2006.