Fed's Bullard says low interest era not expected to end


The era of low global interest rates is not expected to come to an abrupt end, Federal Reserve policy maker James Bullard said on Wednesday, although a rise in U.S. productivity growth would normally require a rise in its rates.

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"We have a low interest rate regime and it is really not expected to turn around and mean revert," Bullard said a UBS banking conference.

He added that there were a number of different possible paths for the U.S. economy at present and that monetary policy could be steered to react accordingly as the situation becomes clearer.

(Reporting by Marc Jones)