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Fed Minutes Point to Rate Hike ‘Relatively Soon’

Wednesday, Oct 12 2016
Fed Minutes Point to Rate Hike ‘Relatively Soon’

U.S. central bankers debating the merits of raising interest rates last month described the decision as a close call, with several saying a rate hike was needed “relatively soon,” minutes of the September meeting showed. “Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded about as the committee expected,” the minutes from the Sept. 20-21 gathering in Washington showed.

“It was noted that a reasonable argument could be made either for an increase at this meeting or for waiting for some additional information on the labor market and inflation.” “Among the participants who supported awaiting further evidence of continued progress toward the committee’s objectives, several stated that the decision at this meeting was a close call,” the minutes stated.

 

Euro is currently being traded around 1.1020 level, Sterling is at 1.22 handle, while Aussie is around 0.7560 area.

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