- US Fed tapers starts, Ben Bernanke to slash bond purchases by $10 bn, emerging markets on noticeDow Jones industrial average, S&P 500 end at record highs after US Fed trims stimulusGlobal stocks rise on bet US Federal Reserve won't taper economic stimulus yetUS Federal Reserve statement on pace of bond purchases awaited
cut in US bond purchases and that markets have already factored in the impact of such a move.
He said this is a mild reduction and the US Fed has not announced any sequential reduction.
"The 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," he said in a statement.
Further, the UN report said the global economy was expected to grow at a pace of 3 per cent in 2014.
Pingfan Hong, Chief of the Global Economic Monitoring Unit, Department of Economic and Social Affairs, said the world economy in 2013 was unable to meet even the most modest projections.