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Bye, bye, QE

Short of a new financial crisis and a major economic downturn, it's unlikely that the Fed would return to the quantitative easing (QE) tool any time soon.

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Responding to improvement in the economy, the Fed has already started gradually cutting back QE since last year.

LAST Wednesday's announcement in Washington didn't come as a big surprise, and some would argue that it was anti-climatic. The US Federal Reserve was ending its quantitative easing (QE) stimulus programme - reducing its last US$15 billion-a-month of asset purchases to zero - which it had