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Weak US data

Published August 17, 2006
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WASHINGTON, Aug 16: The Federal Reserve got fresh justification for keeping US interest rates steady with news on Wednesday that consumer inflation was contained and new housing projects slumped last month.

Data revealing weak growth in US industrial production also buttressed the central bank's case for pausing on a long cycle of rate hikes stretching back to mid-2004, by reinforcing hopes for a “soft landing” for the economy. —AFP

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