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Thursday, October 10, 2013

Most on FOMC continue to see taper this year.

Most members on the FOMC expect the tapering of the Fed's QE program to start this year, the minutes of the September 17-18 meeting show, with the decision not to reduce the bond-buying last month a "close call." FOMC members were aware that the non-taper would be a surprise to the markets. Ultimately - with a number on the committee viewing the latest job data as disappointing - the majority thought it "prudent" to hold steady.

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