美联储维持利率不变 Global risks bring Fed into line with markets on next rate rises

The Federal Reserve has scaled back its forecasts for lifting interest rates this year, coming closer into line with market expectations for two quarter-point rises as it flagged up risks to the US outlook from global financial and economic developments.

美联储(Fed)调低了今年加息预测，接近市场对于两次加息、每次四分之一点的预期。这家美国央行指出了全球金融和经济发展给美国前景带来的风险。

The Fed’s more dovish outlook on rate rises makes it less out of step with other central banks which are still intent on further monetary loosening to offset weaker global growth.

美联储在加息问题上转向更具鸽派色彩的立场，使其减轻了与其他央行的步调不一致程度，目前不少央行仍有意进一步放宽货币政策，以抵消全球增长走弱。

Janet Yellen, the Fed chair, told a press conference that proceeding cautiously would “allow us to verify the labour market is continuing to strengthen despite the risks from abroad”.

美联储主席珍妮特•耶伦(Janet Yellen)在记者会上表示，审慎推进将会“让我们验证劳动力市场仍在继续加强，尽管存在来自海外的风险。”

The US central bank kept its target range for the federal funds rate unchanged at 0.25 per cent to 0.5 per cent, holding fire for a second meeting following its landmark quarter-point rate rise in December 2015.

美国央行将联邦基金利率保持在0.25%到0.5%的目标范围，继去年12月进行里程碑式的加息四分之一点后，这是第二次按兵不动的会议。

Fed policymakers pared back forecasts of increases in short-term rates in the coming years, with the median prediction for 2016 dropping to two quarter-point rises, down from four pencilled in December.

美联储政策制定者调低了关于未来几年上调短期利率的预测，2016年中值预测从去年12月预计的四次加息降至两次。

Ms Yellen in December set the Fed on a course of gradual increases in short-term interest rates, but the outlook became clouded this year by plunging commodity and stock prices, haphazard policymaking in China and worries over weaker global growth.

去年12月耶伦领导美联储进入逐渐提升短期利率的轨道，但大宗商品和股价暴跌，中国政策制定的杂乱性，以及对全球经济增长趋弱的担忧，让今年的前景变得阴云密布。

Fed rate-setters yesterday left their options open over the timing of the next rate increase, as they gave a broadly positive assessment of the US economy’s performance, noting that inflation had picked up, the labour market was strengthening and the economy had continued to expand moderately despite the hazards overseas.

美联储利率制定者昨天未确定下一次加息时机，他们对美国经济表现给予了大致积极的评价，指出通胀有所上扬，劳动力市场正在加强，经济仍在继续适度扩张，尽管海外问题重重。

Despite recent improvements in markets, “global economic and financial developments continue to pose risks”, the statement said. The central bank added that inflation was expected to stay low in the medium term, before rising towards its 2 per cent target.

美联储在声明中表示，虽然市场最近有所改善，“但全球经济和金融形势继续构成风险”。美国央行还预计，通胀在升至2%的目标前，中期仍会保持在低水平。