US Fed to keep interest rates down until 2015

<p>The US Federal reserve will be keeping interest rates down until 2015.</p>

The US Federal Reserve (Fed) will keep interest rates at their historic low until 2015.

This is according to the central bank's minutes from a key meeting yesterday (October 4th), which states the rates will be maintained at 0.25 per cent for more than two more years.

US interest rates have been held between zero and 0.25 per cent since December 2008, as the Washington DC-headquartered Fed works to boost the world's largest economy.

At the institution's third round of asset purchases was announced at September's meeting, with its latest quantitative easing programme seeing the central bank buy $40 billion (£25 billion) in mortgage-backed securities per month for an open-ended period of time.

When the Dow Jones closed last night it was higher by 0.6 per cent to 13575.3 points, while the Nasdaq finished 0.4 per cent up to 3149.4 points.

Investors may be biding their time to see what the results of the latest US unemployment data will be when the data is released later today.

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