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Central banks in the U.S., Europe and Japan are resolute in their policy prescription of maintaining ultra-low interest rates even as economic growth prospects brighten and inflationary concerns mount.

The Federal Reserve, European Central Bank and Bank of Japan are among 16 major institutions expected to hold the line on monetary policy this year to ensure added escape velocity for their economies that were ravaged by the coronavirus pandemic.

Fresh U.S. data showed another pickup in business activity this month, as well as a sharp rebound in March new-home sales after weather-stricken February. In Japan, export growth registered the biggest advance in more than three years as the nation responded to robust demand from countries…

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