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The US Federal Reserve said it would continue to reduce its bond buying stimulus program by $10 billion a month and will keep interest rates extraordinarily low for as long as required.

Road to recovery: But there have been many bumps along the way

Is the sun rising on Japan – or is this just another false dawn?

'Abenomics' seems to be doing the trick for the second-largest economy after two 'lost decades'. Danielle Levy reports

Market Report: Drug giant immune to dose of optimism

The pharmaceutical giant GlaxoSmithKline missed out on the injection of optimism into the rest of the market yesterday as City analysts warned that it needs to spend more money on its pipeline of new drugs.

Fed looks to taper stimulus this year

Janet Yellen named to chair Fed as latest minutes reveal central bank concerns

Head of the Fed: Janet Yellen is not just more of the same

To characterise Yellen as simply a safe pair of hands is to mistake the circumstances in which she takes up her post

US shutdown: Markets drift on IMF warning over global economy

Global stock markets drifted Wednesday as news the Federal Reserve's vice chair will be nominated to head the US central bank gave only a slight lift to investor sentiment darkened by an IMF warning on the global economy.

Fed chairman Ben Bernanke's move back from slowing the stimulus sent jubilant investors racing back into risky assets at the prospect of extended easy money

Investors rush back as the Fed keeps on pumping cash

Investors piled into shares, bonds and the pound today after the US Federal Reserve's shock decision not to slow the pace of its money-printing programme.

US markets up after Larry Summers backs out of Federal Reserve race

The decision by Larry Summers to back out of the race to replace Ben Bernanke at the helm of the US Federal Reserve when he steps down next year, has boosted expectations of a dovish outlook for the monetary policy in the world’s largest economy, driving up stocks and bonds.

Pound gains ground as Summers pulls out

Sterling hit an eight-month high against the dollar today after former US Treasury Secretary Larry Summers decided to pull out of the race to be the next Federal Reserve chairman.

What the Sunday papers said

The Independent on Sunday: Fed to taper QE as US picks up

Fed set to taper QE as US picks up

Signs of gathering momentum in world's biggest economy will influence central bank's decision

US jobs disappointment cuts chances of Fed easing stimulus

The US economy created fewer jobs than forecast in August, dampening expectations that the Federal Reserve will start weaning the US economy off its stimulus programme this month.

Fed united on need to taper QE but split on timing

Markets left guessing on September wind down of stimulus programme

Slowing US economy likely to be boosted as Washington eases belt-tightening

Tighter fiscal policy and sluggish global demand, which has dampened exports, are seen as having hobbled the economy in the April-June period

Mark Dampier: Don't write off bond exposure just yet

It is still difficult to see interest rates in the UK rising before the next general election.

Market Report: ECB rule change is good news for RBS

Frankfurt rarely issues diktats that are helpful to the UK’s banks, but yesterday a rule change meant that taxpayer-backed Royal Bank of Scotland was the order of the day for investors. News of a change to the way the European Central Bank views loans on banks’ balance sheets helped RBS up nearly 4 per cent.

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Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 23 January 2015
Isis hostage crisis: The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power

Isis hostage crisis

The prisoner swap has only one purpose for the militants - recognition its Islamic State exists and that foreign nations acknowledge its power, says Robert Fisk
Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Homeless Veterans appeal: ‘If you’re hard on the world you are hard on yourself’

Maverick artist Grayson Perry backs our campaign
Missing salvage expert who found $50m of sunken treasure before disappearing, tracked down at last

The runaway buccaneers and the ship full of gold

Salvage expert Tommy Thompson found sunken treasure worth millions. Then he vanished... until now
Assisted Dying Bill: I want to be able to decide about my own death - I want to have control of my life

Assisted Dying Bill: 'I want control of my life'

This week the Assisted Dying Bill is debated in the Lords. Virginia Ironside, who has already made plans for her own self-deliverance, argues that it's time we allowed people a humane, compassionate death
11 best winter skin treats

Give your moisturiser a helping hand: 11 best winter skin treats

Get an extra boost of nourishment from one of these hard-working products
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee
World War Z author Max Brooks honours WW1's Harlem Hellfighters in new graphic novel

Max Brooks honours Harlem Hellfighters

The author talks about race, legacy and his Will Smith film option to Tim Walker
Why the league system no longer measures up

League system no longer measures up

Jon Coles, former head of standards at the Department of Education, used to be in charge of school performance rankings. He explains how he would reform the system
Valentine's Day cards: 5 best online card shops

Don't leave it to the petrol station: The best online card shops for Valentine's Day

Can't find a card you like on the high street? Try one of these sites for individual, personalised options, whatever your taste