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America’s central bank could wrap up its stimulus programme and raise interest rates earlier than expected, with inflation at a 30-year high and the jobs market improving.

The minutes of the Federal Reserve’s most recent meeting, released last night, show that some policymakers are moving towards ending its bond-buying scheme sooner than thought, given the US’s high inflation rate which hit 6.2% last month.

The Fed started tapering its $120bn/month asset purchase scheme at this month’s meeting, cutting it by $15bn per month — at which rate it would end by next June.

But the minutes drop a clear hint that tapering could be speeded up: