The Federal Open Market Committee is due to announce its decision at the end of the two-day meeting on Wednesday. Central bankers on Friday likely got the final push they needed, if they were in any doubt, after a strong employment showing 235,000 net new jobs created in February and the unemployment rate moving down a tenth of a point to 4.7%. “This is really a simple decision.”On Friday afternoon, the Fed fund futures market put the probability of a 25-basis-point increase at 93%. And the unemployment rate has remained below 5% since May. Also Read | Gold prices suffer on likely US Fed rate hikeJanuary also saw a decline in personal consumption, with warm weather depressing utility bills, and industrial production, not to mention disappointing auto sales and falling housing starts.

Source: Mint March 12, 2017 05:26 UTC