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Fed meets on interest rates but markets eye June decision

Markets were already focusing more on what might happen in June as the Federal Reserve opened its two-day monetary policy meeting with no expectations of an interest rate changeWeak inflation and the prospect of more financial turmoil ahead of Britain’s Brexit vote are expected to keep US monetary policy on hold Wednesday when the Federal Reserve wraps up a two-day meeting. Markets were already focusing more on what might happen in June as the policy-setting Federal Open Market Committee waits to see if the US economy picks up from a first quarter lull. With Chair Janet Yellen having tilted the divided Federal Open Market Committee to the dovish side in its March review, analysts say the group has room to wait and see what happens in the coming months.

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