US FED keeps rates stable, one more possible hike in December

According to media reports, the US Federal Reserve (Fed) kept interest rates unchanged for another month at 0.25% to 0.50% in order to see clear signs of a strengthening US economy before raising rates. The Fed is expected to implement a rate hike in December.

The economy grew at a 2.9% annualized pace in the July-September period, expanding more than double the growth rate of the previous quarter. Nevertheless, rate hikes were delayed owing to slowing global growth at the beginning of this year, the US employment rate and Brexit.

Fed Chair Janet Yellen was quoted as saying that one rate hike is possible before the end of this year in the case of higher employment and inflation rates.