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•The Federal Reserve is set for a lively debate in the coming week and could give a clear signal of an interest rate rise to come even if it follows market expectations for a pause this month. Both the European Central Bank and Britain's Bank of England kept monetary policy unchanged this month, although both with a bias towards further easing action later in the year. The Fed is expected to follow suit, but with a bias in the opposite direction. Atlanta Federal Reserve Bank president Dennis Lockhart, viewed as a centrist voice at the Fed, said in the past week that current economic conditions warranted serious debate.

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