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Fed to hold rates steady ahead of Trump's decision on new central bank head

Markets will look to it for confirmation the central bank is on track for a December rate hike

Reuters  |  Washington 

The Federal Reserve is expected to keep interest rates unchanged on Wednesday as speculation swirls on who will be its next leader, but the US central bank will likely point to a firming economy as it edges closer to a possible rate rise next month. The Fed has raised rates twice since January and currently forecasts one more hike by the end of the year as part of a tightening cycle that began in late 2015. Investors have all but ruled out a move at the end of this week's two-day policy meeting. The Fed is due to issue its latest policy statement at 2 pm EDT (1800 ...

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First Published: Wed, November 01 2017. 13:27 IST