Promise of cheap money keeps stocks buoyant

By Tom Westbrook and Echo Wang SINGAPORE/MIAMI (Reuters) – Bond markets steadied, the U.S. dollar fell and stocks edged ahead on Wednesday after central banks from Washington to Wellington vowed to keep monetary policy loose for a long time, giving investors enough confidence to seek out riskier assets. U.S. Federal Reserve Chair Jerome Powell told Congress on Tuesday the economy remained “a long way” from employment and inflation goals and that rates would stay low and bond buying proceed apace until there was “substantial further progress”. The Reserve Bank of New Zealand on Wednesday made n…

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