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US Fed signals it may increase interest rates by midyear

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IANS Washington
Last Updated : Mar 19 2015 | 12:02 AM IST

The US central bank signalled Wednesday that it would consider raising its benchmark interest rate at its June meeting, the first increase since the 2008 financial crisis.

But in a statement issued after a two-day meeting of its policy-making committee, the Federal Reserve also emphasized that it might still delay the decision until later this year.

The Fed's announcement moved the central bank to the verge of ending a period of more than six years in which it has held short-term interest rates near zero.

"The march toward higher rates reflects both the Fed's optimism that the economy no longer needs quite as much help from the central bank, and a sense of fatigue about its long-running campaign to encourage faster economic growth," the New York Times said.

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First Published: Mar 19 2015 | 12:00 AM IST

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