US Federal Reserve to begin tapering pandemic stimulus package – as it happened

Rolling coverage of the latest economic and financial news

• Latest: Fed begins tapering its pandemic stimulus programme
• Fed will cut $120bn package by $15bn per month, from November
• Factors pushing up inflation expected to be transitory'
• ADP payrolls up 571,000 last month

Earlier:

• UK service sector growth at three-month high
• UK house prices climb but outlook for market extremely uncertain'

Here's our news story on how average UK house prices defied expectations and continued to climb last month... despite the phasing out of the government's stamp duty holiday.

But as Nationwide points out, the outlook is unclear, with the path of interest rates, consumer confidence and employment levels all likely to influence the market...