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Fed not "that close" to winding down stimulus: Bullard

A top U.S. central bank official sought to reassure financial markets that the Federal Reserve was not in a hurry to start winding down its economic stimulus as investors worried about comments by its chairman Ben Bernanke.James Bullard, president of the Federal Reserve Bank of St. Louis, said on Thursday he did not think the Fed was "that close" to starting the process of winding down its support.Share prices around the world fell sharply after Bernanke said on Wednesday that the U.S. central bank may start to trim its bond purchases at one of its next policy meetings.Bernanke also said the Fed needed to see more signs of recovery in the U.S. economy before scaling back its stimulus, but investors focused less on those comments.Bullard, speaking in London, said the U.S. economy was improving but he would like to be sure inflation was heading back towards target before the Fed started winding down its support programme."I think the chairman, as he always does, said the right thing whic...

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  1. ECB seeks new tools while Fed toys with exit

    The European Central Bank is looking into expanding its range of policy tools, while the U.S. central bank is mulling scaling back its support measures, highlighting...

  2. China Data, Fed Worries Pummel Global Markets

    Share markets fell sharply on Thursday as investors piled back into safer assets, unnerved by the twin setbacks of unexpected weakness in China's economy and signals...

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    President Anibal Cavaco Silva thanked Portugal's patron saint for a long-delayed approval of Lisbon's bailout review last week, but the head of state could claim a s...

  4. Praet says ECB can expand its tools to fight crisis

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    Ireland's government is still hoping the euro area authorities will allow it to refinance huge debts it ran up during the country's deep financial crisis to save its...

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    European stock markets dropped on Tuesday, after climbing to multiyear highs in the prior session, with investors cautious about making any major moves before more c...

  7. EUROPE MARKETS: Europe Stocks Extend Rally, Track U.S. Higher

    European stock markets extended gains in choppy trade on Monday, with car makers in the driver's seat after a broker upgrade, while the broader sentiment tracked the...

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