Thursday, December 18, 2014

Nigeria To Revise Budget to Account for Lower Oil Price

Shares on Wall Street have risen ahead of the latest statement from the US Federal Reserve.

There is speculation that the US central bank will end its commitment to keep interest rates low for a “considerable period”, suggesting a rate rise is moving closer.

The Dow Jones rose 49.74 points to 17,118.61.

The S&P 500 climbed 8.21 points to 1,980.95, while the Nasdaq added 11.87 points to 4,559.71.

Earlier, figures showed that US consumer prices fell by the sharpest amount for six years last month.

The Labor Department said consumer prices fell 0.3% in November as fuel prices dropped, with the annual rate of CPI inflation sliding to 1.3%.

However, analysts said that the Fed was unlikely to alter its policy, with many economists expecting the Fed to raise rates in mid-2015.

via BBC

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