Thursday, 16 June 2016

SGX Update : Yellen says Brexit vote influenced Fed call to hold rates steady .


(June 16): Federal Reserve Chair Janet Yellen said next week's referendum in the UK on whether to remain in the European Union was a factor in the US central bank's decision to hold interest rates steady at its meeting Wednesday in Washington.

"It is a decision that could have consequences for economic and financial conditions in global financial markets," Yellen said during a press conference following the meeting. A vote on June 23 by Britons to leave the EU "could have consequences in turn for the US economic outlook," she said.

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