Scoreboard: Fed holds steady

US stockmarkets were mixed after the Federal Reserve reiterated it would be 'patient' in raising interest rates, while Apple’s record profits buoyed European tech stocks.

The US Federal Reserve said that economic activity has been expanding at a "solid pace" but "based on its current assessment, the Committee judges that it can be patient in beginning to normalise the stance of monetary policy". It was a unanimous decision by policymakers. Last meeting there were three dissenters to the decision.

In US economic data, the weekly mortgage market index fell by 3.2 per cent in the latest week with purchases down 0.1 per cent and refinancing down 5.1 per cent.


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