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Fed meeting: no rate hike expected, but will FOMC turn bullish?

US Federal Reserve chair Janet Yellen, pictured on February 10, 2016, will release new forecasts for economic growth, unemployment, inflation and interest ratesAlmost no one expects the Federal Reserve to announce another interest rate hike on Wednesday, but all eyes are focused on whether the US central bank turns more bullish in its outlook. Long-awaited signs of strengthening inflation have appeared in US economic data that would support the Fed signaling more tightening ahead, even as the global economic outlook has weakened. The Federal Open Market Committee (FOMC), led by Fed Chair Janet Yellen, will release its updated policy statement at 2:00 pm (1800 GMT).

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