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Rate hike likely to come 'later this year': Fed chief

Central bank leaves benchmark interest rate unchanged at near zero; economy still has weak points, says Yellen

"The timing of a first decision to raise rates is something that should not be overblown, whether it is September or December or March," says Ms Yellen.


THE Federal Reserve left its benchmark interest rate unchanged at near zero on Wednesday, but chair Janet Yellen said the first hike in nine years would likely come "later this year".

After a two-day policy meeting, the US central bank's Federal Open Market Committee (...

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