Better prepared to deal with US tapering: PC

New Delhi, Dec 19 : Union Finance Minister P Chidambaram on Thursday said the country is better prepared with the consequences of the US Federal Reserve's decision over scaling down its monthly bond purchases.

"Government has taken note of the statement issued by the US Federal Reserve on the 'taper'. This morning, I spoke to Dr. Raghuram Rajan, Governor, RBI," Chidambaram said in a statement on Thursday.

The US Federal Reserve has announced that it will continue to purchase securities at the rate of USD 75 billion per month, as against the earlier level of USD 85 billion per month.

This is a mild reduction, and the US Federal Reserve has not announced any sequential reduction.

Chidambaram said: "Government is of the view that the markets had already factored in the US Federal Reserve's decisions and, therefore, is not likely to be surprised by these moderate changes. Besides, we are better prepared than in May 2013 to deal with the consequences, if any, of the US Federal Reserve's decisions."

--IBNS (Posted on 19-12-2013)

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