Dec rate hike on cards, US economy on track: Key takeaways of the Fed meet

The Fed has raised rates twice this year and currently forecast another nudge upwards by the end of 2017

As was widely expected move, the US Federal Reserve on Wednesday decided to keep interest rates unchanged and pointed out that the US economic growth was solid and labour market was strengthening. Also, it played down the impact of the recent hurricanes, an indication that the Fed is set to lift interest rates again in December.

The Fed has raised rates twice this year and currently forecast another nudge upwards in its benchmark lending rate from its current target range of 1% to 1.25% by the end of 2017. The central bank is scheduled to hold its final policy meeting