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'Brexit' a factor to unchanged interest rates

CCTV.com

06-16-2016 15:26 BJT

The U.S. Federal Reserve is keeping interest rates unchanged. Its chair, Janet Yellen, said that the organization is concerned about the upcoming British referendum over whether to leave the EU. She acknowledged that these concerns were partly why rates remained unchanged.

“Brexit, the upcoming U.K. decision on whether or not to leave the European Union, is something we’ve discussed. And I think it's fair to say that it was one of the factors that factored into today’s decisions. Clearly, this is a very important decision for the United Kingdom and for Europe,” Yellen said.

“It is a decision that could have consequences for economic and financial conditions in global financial markets. If it does so, it could have consequences, in turn, for the U.S. economic outlook that would be a factor in deciding on the appropriate path of policy.”

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