Rolling business and financial news, as global investors digest the Federal Reserves latest policy statement, and the Scottish independence poll 8.19am BST Good morning, and welcome to our rolling coverage of the financial markets, the world economy, business and finance.The US dollar is rallying this morning after the Federal Reserve signalled last night that US interest rates will rise faster than expected, once the hiking begins.In commodities, Gold has taken another dive to $1217/oz, its lowest since January, after the US Fed increased its interest rate projections, spurring USD gains which made the safehaven more expensive.GLOBAL MARKETS-Yellen comments boost U.S. stocks; gold fallsGold falls to lowest since January http://t.co/UO5jHNjpqIThe labor market is still struggling to recover, Yellen said to reporters on Wednesday. There are too many people who want jobs but cannot find them too many people who are not searching for a job but would be if the labor market were stronger.Fed in no hurry to raise interest rates as it details gradual plans to exit stimulusWhat else is afoot today?...The message that Hardouvelis is sending to Germany and Greeces other creditors in an interview to be published on Thursday in German newspaper Handelsblatt is that the country is able to refinance its requirements by itself.Just a few days before a meeting between the Greek and German heads of government, Antonis Samaras and Angela Merkel, Hardouvelis argued that Greece does not need a third bailout package, noting that the country is able to borrow from markets at a cost below that of the loans from the International Monetary Fund.... Continue reading...
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