Yellen’s speech today included references to “slack,” a term also used recently by Bank of England Governor Mark Carney to underscore a pledge to keep interest rates at a record low.
Inflation decelerated to a 0.9 percent 12-month pace in February from 1.2 percent in January and has been below the Fed’s 2 percent target for almost two years The yield on two-year Treasury notes, which are sensitive to changes in Fed policy, fell two basis points, or 0.02 percentage point, to 0.43 percent.
----------------------------------------------------------- GOLD - DOWN @ $US 12.86
$A - UP @ 92.7c.
S&P 500 UP 0.8%
--------------------------------------------------------- IRON ORE UP $US 117.00 DALION AND REBAR ALSO UP
