Scoreboard: Fed deadline

Wall Street rebounded from a two-day decline as it was revealed October would likely see the end of QE, while oil prices dipped on improved supply expectations from key Middle East producers.

The US Federal Reserve FOMC minutes from its June 17-18 meeting were released. The Fed began detailing how it plans to ease the US economy out of an era of loose monetary policy. The minutes showed that Fed participants ‘generally agreed’ that its monthly bond purchases would end in October. There was also discussion about the central banks current policy of reinvesting its $US4.2 trillion in asset holdings as the securities mature. Policymakers debated how to reduce those holdings without disrupting financial markets. Rates hikes are still unlikely till the second half of 2015.

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