By Central Bank News (Guest Post)
The US Federal Open Market Committee (FOMC) held the fed funds rate unchanged at 0 to 0.25 percent, and announced a refocus of its quantitative easing program (the so-called ‘twist’). The Fed announced: “The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on longer-term interest rates and help make broader financial conditions more…
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