US Close 22 Sept 16:FED says NO change in U.S. rates, markets boosted by Yellen’s comments.

The US Federal Reserve has left the Federal Funds rate in a range of 0.25-0.50%. The vote was 7-3.

US sharemarkets rose on Wednesday. Investors positively reacted to news that the Federal Reserve left interest rates unchanged but continued to forecast higher rates by year end. Banks rose in line with Asian and European banks in response to the Bank of Japan decision to target longer-term rates. The energy sector rose in response to a higher oil price. The Dow Jones index rose by 164 points or 0.9% with the S&P 500 index up by 1.1% while the Nasdaq rose by 54 points or 1.0%.

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