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The Federal Reserve Bank of New York is likely to cut its interest rate target further as inflationary pressures continue to cool, its president said on Monday. "Monetary policy remains in restrictive territory to support a sustainable return of inflation to its 2 per cent objective," Mr. Williams said in a speech at a meeting of the Queens Chamber of Commerce in New York. Looking ahead, "I expect a continued shift to more neutral policy setting will be appropriate over time," Mr. Williams said.

2024-12-03 06:00:59