[Reuters – UK Focus] – Wall Street stocks were steady, U.S Treasury debt yields fell sharply, and oil prices rose to their highest level of the year on Wednesday after the Federal Reserve announced it would keep U.S (Other OTC: UBGXF – news) . The Fed left their policy interest rate target at the previous level of 0.25 percent to 0.5 percent as expected,and while it left the door open to a rate rise in June, its statement implied that it was in no hurry to follow on from its December rate rise. The statement helped U.S. stocks recover some early losses, lowered long term bond yields and boosted crude oil prices.
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