An announcement by the Federal Reserve that it would maintain loose monetary policy until 2013 led to a sharp drop in interest rates and a surge in safe haven currencies, the Swiss franc and Japanese yen.
The Federal Reserve said it will maintain “exceptionally” low interest rates through 2013, citing a belief that the growth rate had slowed since its last meeting. Three officials dissented fromthe vote, for the first time since 1992, according to Dan Greenhaus, chief global strategist at BTIG.
“Three dissents on Fed policy is pretty close to mutiny,” he said.
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