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US Fed agreed to hold interest rates high 'for some time': minutes
US Federal Reserve officials agreed last month they should hold interest rates high "for some time" in their ongoing fight against inflation, according to minutes of the meeting published Wednesday. "All participants agreed that policy should remain restrictive for some time until the Committee is confident that inflation is moving down sustainably toward its objective," the minutes showed.
US Fed official lauds 'very good' progress on inflation
The US Federal Reserve's fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official said Wednesday. Inflation at the consumer level has slowed sharply since peaking last summer but it remains elevated, while the economy is showing signs of continued resilience.
Finland gas pipe likely damaged by 'mechanical force': police
Finnish authorities on Wednesday said the leak leading to the shutdown of a natural gas pipeline from Estonia to Finland appeared to have been caused by "mechanical" force and not a blast. It will take at least five months to repair the pipeline, its operator said Wednesday, which will leave Finland totally dependent upon liquefied natural gas imports for the winter.
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