Fed signals December rate rise

Most members agree hike is imminent

Most members of the Federal Reserve's rate-setting committee want to raise rates in December, minutes from October's meeting have revealed.

Members said it might be appropriate to hike rates from near-zero levels next month provided there were no "unanticipated shocks". The move would be the first raise since 2006. However, not all members were completely set on an increase as some said not all the information needed on the US economic recovery would be available by December, and questioned whether the US economy was strong enough to withstand a raise given the Fed's limited monetary firepower, according to the FT. Markets have been debating when the Fed will make its first move towards normal monetary policy for several ...