Analysts relieved as US Federal Reserve doubles reduction in bond-buying programme

Though they are split on whether three hikes next year is positive

The Federal Reserve’s Federal Open Market Committee voted unanimously to double the reduction in its monthly bond purchases to $30bn a month, meaning that the stimulus will now retire in March.

Importantly, though the committee chose to keep interest rates stationary, it predicted three rate hikes in 2022, a sharp increase from previous expectations. Analysts were not surprised by the decision...