Crude Oil Rally starts

 

Market Moves Staff - 27 Jan 2012

Crude oil rallied after Federal Reserve chairman Ben Bernanke said there will be no rate hikes through to at least 2014, while signalling that a third round of QE is in the pipeline. 

The Federal Open Market Committee 'recognises the hardships imposed by high and persistent unemployment in an underperforming economy, and it is prepared to provide further monetary accommodation,' Mr Bernanke said yesterday at a press conference in Washington.





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