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US Fed: Weak growth temporary; gradual rate hikes on the cards

The FOMC statement said that the labour market has continued to strengthen with "solid" job gains and the unemployment rate at 4.5%.


THE US Federal Reserve held interest rates steady on Wednesday, while also downplaying recent weak economic growth, a signal it will remain on course for gradual rate hikes.

The wording of the Fed's policy statement strengthens the prospect of two more increases in the

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