However, the Fed, while not explicit on the timing, left the door open to a rate hike soon, possibly in the next meeting on December 13-14. But analysts were divided over how to interpret the hints given by the Federal Open Market Committee, the Fed’s monetary policy arm. The key rate has been at 0.25-0.5 percent for nearly a year, after spending the years since the 2008 crisis at zero. Early this year the central bankers said they expected several rate cuts before 2017, but have held off over concerns of derailing a fragile economic recovery. “The Committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives,” the FOMC said.

Source: Manila Times November 03, 2016 05:13 UTC