In a landmark meeting of the Federal Open Markets Committee (FOMC), the US Federal Reserve announced that low interest rates are likely to prevail until at least 2023. Until then, Fed policy rates are expected to remain in the 0.0%-0.25% range (median at 0.1%) together with a consistent pace of Treasury purchases and mortgage-backed securities at US$80 billion ($108.9 billion) and US$40 billion respectively. 

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