WORLD FINANCE UPDATE:
The Australian dollar has soared by more than one-and-a-half US cents after the US Federal Reserve signalled it would need to see an improvement in the jobs market before raising interest rates.
At 0630 AEDT on Thursday, the local currency was trading at 77.75 US cents, up from 76.06 cents on Wednesday.
And the Australian share market looks set to open higher after Wall Street surged more than one per cent following the Federal Reserve's statement on interest rates.
At 0645 AEDT on Thursday, the March share price index futures contract was up 35 points at 5,888.
ELSEWHERE:
WASHINGTON - The Federal Reserve has dropped its pledge to remain "patient" on raising interest rates, signalling a possible midyear Fed funds rate hike after over six years at the zero level.
LONDON - Britain's economy is set to grow by a better-than-expected 2.5 per cent this year, finance minister George Osborne says.
LONDON - Britain's government has vowed to move from austerity to prosperity in a key pre-election budget, describing the looming national vote as a "critical choice" between chaos or economic success.
ATHENS - The Greek parliament has overwhelmingly adopted a "humanitarian crisis" bill aimed at helping its poorest people, ignoring apparent pressure from the European Union to halt the legislation.
STOCKHOLM - Sweden's central bank has taken its key interest rate further into negative territory in a surprise move aimed at supporting a return to inflation.
BERLIN - Swiss authorities are handing Brazil more than $US120 million ($A157.5 million) that was frozen as part of corruption probes involving Brazilian state-run oil company Petrobras, prosecutors say.
FRANKFURT - Opel, the European arm of US auto giant General Motors, says it will withdraw from the Russian market, and close its factory in St. Petersburg.
NEW YORK - FedEx Corp's third-quarter profit has jumped more than 50 per cent because of volume growth and lower fuel costs.
FRANKFURT - German airline Lufthansa has cancelled around 750 flights, as pilots stage fresh strike action in a bitter dispute over early retirement.
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