16 Dec 2017 | 7:48 AM
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Commodity Research Report: Weekly Report :Metals & Energy

Metals and Energy Weekly Report (December 22-26, 2014)
22 Dec 2014 | 05:49 PM

  • The Federal Reserve, in its meeting raised its annual outlook for US economic growth and projected a larger decline in unemployment over the next two years.
  • Staying the course on monetary policy and keeping interest rates near zero after a two-day meeting, the Fed said the economy was on track to keep expanding at "a moderate pace."
  • In an update to its forecast, the central bank said gross domestic product would grow by between 2.3 per cent and 2.4 per cent this year, up from a September estimate of 2.0 to 2.2 per cent
  • Fed officials pointed toward the summer of 2015 as the most likely time for the long-awaited lift of short-term interest rates, which the Fed has held near zero since December 2008.
  • U.S. Energy Information Administration data showed crude inventories fell by 847,000 barrels against expectations of a 2.4-million-barrel draw.