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U.S. Fed rate watchers wait to see what happens when doves cry Add to ...

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When Federal Reserve chief Janet Yellen and her fellow policy-setters finally ended months of uncertainty and raised interest rates by a slim quarter of a percentage point in mid-December, they knew they were taking a divergent path from other major central banks.

While the Fed embarked on its first tightening cycle in nearly a decade, signalling confidence in the U.S. economic recovery, worried monetary minders in Europe, Japan, China and Canada were either loosening policy or holding fire amid deteriorating economic and trade conditions.

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