Breaking: Fed leaves policy rate unchanged, doubles pace of bond taper from mid-January

The US Federal Reserve announced on Wednesday that the FOMC had agreed to leave the Federal Funds target range unchanged at 0.0-0.25%, in line with expectations. Moreover, the pace of the taper of the bank’s bond-buying programme will be increased to $30B per month from the current $15B per month. That means net asset purchases will fall to zero before the end of March 2022.