Federal Reserve hints that rate hike may not be too far away

As had been expected, last week’s US Federal Reserve meeting concluded with no changes to monetary policy, with the key fed funds interest rate remaining at 0.375%.

However, the decision to leave policy on hold was not unanimous, with three of the 10 voting council members favouring an immediate 25 basis points rate hike.

This compares to the 9-to-1 split at the previous meeting in late July.