No QE3 for the time being

It was expected that US Fed Chairman Mr. Ben Bernanke will announce / give some time line for QE3 to stimulate the US Economy.  As happened earlier he only talked with no action. At least no QE3 will come in near future as evident from his words. But the stimulus cannot be ruled out completely and it may come any time by the end of Dec 12. No QE3 is good news for emerging economy as it would have fire up the inflation rate due to hike in commodity prices. Some expectation was that a part of QE3 will come to India Stock Market and due to that SENSEX will go up and INR will appreciate. Nothing of this is going to happen for now.  He did not give any clear signal of the next policy action.   He said the economy still faces "the daunting economic challenges" and "the stagnation of the labor market in particular is a grave concern".  He said  Fed "will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions.

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