Change in Fed policy unlikely in the short term

SHANGHAI - The Federal Reserve will maintain its accommodative monetary policy for about six months, given the high unemployment rate and contained inflationary pressure in the United States, Charles L. Evans, president of Federal Reserve Bank of Chicago, said on Tuesday.

But analysts said that China's central bank, regardless of hot money inflow concerns, will be unmoved by US decisions, and raise the interest rate this year before the US given China's mounting inflation risks.

"We will hold it (the monetary policy) for our next three to four meetings, that will be about six months. Conditions will continue to warrant the substantial policy accommodation through the end of this year," Evans said in Shanghai.