Interest and exchange rate forecast - October 2012
05 October 2012
Doing whatever it takes: First it was the ECB saying that it would do "whatever it takes" to save the euro. Now it’s the turn of the US Federal Reserve. By announcing that the Fed intends to pursue monthly doses of quantitative easing (QE) until there is a substantial improvement in the labour market, Fed Chairman Ben Bernanke has effectively said they'll do "whatever it takes" to get the labour market working. With what amounts to an open-ended commitment from the Fed, and the likelihood of more QE from the Bank of England in November, unconventional monetary policy looks set to be around for some time to come.
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