Federal Reserve Leaves Interest Rates Unchanged

The 12-month measure for the PCE price index slowed to 1.8 percent, below the Fed's 2 percent target and down from 2.1 percent in March. "The federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run".

The U.S. economy grew at a sluggish 0.7 percent in the first quarter - the lowest rate in the last three years.

"The statement makes it very clear that the Fed does not take the reported slowdown in first-quarter growth seriously", Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in an email to clients.

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Kenseth is regarded as one of the better plate-racers around, but he hasn't performed well in these types of races recently. The 2.66-mile oval in Alabama is the longest on the circuit, and routinely provides entertaining and action-packed racing.

"The adverse impact of the fall in the pound was evident in the rise in the prices charged balance to its highest level since July 2008", said Scott Bowman, UK economist at Capital Economics.

The labor market continued to strengthen even as growth in economic activity slowed and "the fundamentals underpinning the continued growth of consumption remained solid", policymakers added.

The dollar rose to fresh six-week highs against the yen on Thursday, boosted by bets for more rate hikes by the Federal Reserve this year, while the euro and sterling rose, lifted by robust service sector reports.

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Overnight, the Federal Reserve kept its benchmark rate unchanged at 0.75-1% on Wednesday. Fed Chair Janet Yellen did not have a press conference after this meeting. But she and at least five other Fed officials are scheduled to speak on Friday, giving policy makers a chance to explain their decision more fully. While the Fed didn't foreshadow a June hike in its policy statement released Wednesday, it did express confidence in the underlying strength of the economy and saw some disappointing recent economic results as only "transitory". "An April rebound in payroll growth can be expected if unusually warm weather accelerated hiring in January and February at the expense of March ... the FOMC's exercise in accentuating the positive can be justified in light of the progress to date and the underlying trends in job growth, the unemployment rate, wage and income gains, household spending and inflation".

First, the April non-farm payrolls report is due out in the morning.

Investors increased the likelihood of a move next month to around 65 per cent, according to pricing in federal funds futures contracts, compared to 60 per cent before the FOMC decision was announced.

Baahubali-2 Rakes in Rs 100 Crore on Day One
Co-producer Karan Johar tweeted: "Historic Weekend!" The premiere for the film canceled because of Vinod Khanna's sudden demise. In Sunday, Rajinikanth described Rajamouli's Baahubali 2 as pride of Indian cinema and added that it's a masterpiece.

"The June hike looks pretty much alive", said Win Thin, global head of emerging markets currency strategy at Brown Brothers Harriman in NY. "We expect this will be the case".

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