Bulletin

Fed paves way for rate rise this year amid jobs optimism

US

US Federal Reserve chair Janet Yellen has laid the groundwork for the end of zero interest rates in America by giving a cautiously optimistic assessment of the country's economy in which she stressed that the labour market had improved 'along many dimensions', although there is room for further progress. Ms Yellen said that rate movements could occur at any meeting, should the Fed modify its guidance to markets. She added that the central bank's Federal Open Market Committee would begin tightening monetary policy when it was 'reasonably confident' that inflation would return to its 2% objective.

 

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