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Oil Edges Down | Fed Minutes Urge Caution
Published January 10, 2019
fell in the early morning trade on Thursday, pausing after surging to a nearly
four-week high the day before, amid lack of any clear resolution to
US-China trade talks and on a renewed risk off sentiments. WTI crude prices
have hit a low of $51.45.
minutes of the Fed’s December gathering, officials believed that with inflation
still muted, the central bank could take a gradual approach to lifting interest
rates further. The Fed also trimmed its projection of possible rate hikes in 2019
from three down to two.
Reserve is likely to eventually push interest rates up slightly into
restrictive territory if the dark clouds over the outlook clear up, said
Chicago Fed President Charles Evans. Evans is a voting member this year on the
rate-setting Federal Open Market Committee.
The UK Prime
Minister Theresa May facing an uphill battle to save Brexit deal, and is said
to be considering making important concessions to the opposition Labour party
to try to secure the support of some of its MPs. The government is considering
giving extra protections to workers and the environment to win support for its
Brexit withdrawal agreement.