KATHMANDU, Sept 30: Prime Minister KP Sharma Oli has directed the Poverty Alleviation Fund (PAF) to transform itself from its past modality of grants into a 'think tank' for the Ministry and entities working in the poverty alleviation.

Fed’s dovish turn

March 24, 2019 00:25 am

NEW YORK – The US Federal Reserve surprised markets recently with a large and unexpected policy change. When the Federal Open Market Committee (FOMC) met in December 2018, it hiked the Fed’s policy rate to 2.25-2.5 percent, and signaled that it would raise the benchmark rate another three times, to three to 3.25 percent, before stopping. It also signaled that it would continue to unwind its balance sheet of Treasury bonds and mortgage-backed securities indefinitely, by up to $50 billion per month.