New York — US stocks and the dollar were steady on Wednesday with investors cautious ahead of a US Federal Reserve statement that may give clues on whether the central bank will raise interest rates for a third time this year. MSCI’s World index, which tracks stocks in 46 countries, was up 0.1% and hit another record, while US Treasuries prices gained slightly. With the Fed due to release its latest policy statement at 6pm GMT, caution prevailed. The US central bank is widely expected to announce that it will begin paring its bond holdings, and many analysts and investors expect the reductions may begin in October. While the Fed is expected to hold rates steady, investors are keen to see the Fed’s economic projections and any other signals on whether a rate increase in December is likely. "If they are slightly more dovish in their language, I think you could see a reversal in the banks, but I don’t see a lot of activity," said Aaron Clark, portfolio manager at GW&K Investment Manage...
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