LONDON (ICIS)--European chemicals stocks rose on Thursday in line with international markets on the back of news that the US Federal Reserve is planning to offset the impact of its decision to scale back its quantitative easing (QE) programme by keeping interest rates low.
The Fed announced on Wednesday that it intends to roll back its $85bn/month QE scheme by $10bn a month from January, reducing its purchases of mortgage-backed securities from $40bn/month to $35bn, and adding to its holdings of long-term Treasury securities at a rate of $40bn/month instead of $45bn.more >>
INSIGHT: US oil, gas output to surge, but it could be better
“This is the folly of keeping these areas off limits now, knowing that tight oil production will peak in 2020.” more
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