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Fed's soothing patience fuels further rebound

Published Fri, Dec 19, 2014 · 09:50 PM
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BOY, is patience ever a virtue.

The US Federal Reserve announced this week that it could be "patient" about raising interest rates, and look what it has done for the markets.

The Straits Times Index (STI) rose 1.11 per cent, or 35.88 points, to close at 3,279.53 on Friday, capping a three-day rally fuelled in the last two sessions by the accommodative stance from the Federal Open Market Committee (FOMC).

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