US Federal Reserve holding its nerve.
The interest-setting Federal Open Market Committee said that core inflation remained somewhat elevated, but added that inflation pressures were likely to moderate over time. "The committee's predominant policy concern remains the risk that inflation will fail to moderate as expected."
This disappointed investors who had hoped that the central bank would acknowledge the softening in some recent US inflation data opening up the prospect of interest rate cuts later this year.
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|Publication:||The Birmingham Post (England)|
|Date:||May 10, 2007|
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