The Federal Reserve’s minutes from its October meeting will be published on Wednesday, just as investors are growing increasingly uncertain about the path of US interest rates.
The Fed lowered its benchmark rate to a range of 3.75 per cent to 4 per cent last month. But investors who were hoping that the central bank’s chair Jay Powell might hint at another cut in December were left disappointed.
A quarter-point cut in December had been fully priced in leading up to October’s meeting. Powell’s statement that a further reduction of the policy rate at the end of the year “is not a foregone conclusion” quickly recalibrated the market’s expectations.
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