US Fed rate hikes may be less likely over next 6 months: Analyst

The United States Federal Reserve on Wednesday (Oct 28) kept interest rates unchanged at 3.75 to 4 per cent, despite surging inflation and rising energy costs, just days before the country's midterm elections. The central bank also announced plans to reduce the number of meetings dedicated to interest rate decisions from 2027. Speaking to CNA's Asia First, Gareth Berry, forex and rates strategist at Macquarie Group, says the changes could limit scope for future rate hikes. He adds that only two officials pushed for an increase, rather than the three many had expected, suggesting further rate hikes may be less likely over the next six months. Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia