Markets mixed after Fed chair says low rates to persist

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World markets were mostly higher Friday after the Federal Reserve chair said the U.S. central bank will keep its easy money policy even if inflation hits its 2 per cent target.

World markets were mostly higher Friday after the Federal Reserve chair said the U.S. central bank will keep its easy money policy even if inflation hits its 2% target.

Germany's DAX edged 0.2% lower, to 13,070.04 while the CAC 40 in Paris ticked less than 0.1% higher, to 5,017.08. Britain's FTSE 100 gained 0.2% to 6,014.23. U.S. futures were higher, with the S&P 500 contract up 0.4% and the contract for the Dow industrials 0.5% higher. "With the adoption of allowing inflation to overshoot their target, the Fed is slowly becoming the BOJ," Edward Moya of Oanda said in a commentary, referring to the Bank of Japan. "The Fed did not give any hints on how they will achieve inflation and that is why no one is buying that it will happen anytime soon."

 

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