All eyes on the BoE as Federal Reserve holds rates at 22-year high

Bar for further hikes is higher

The Federal Reserve has held interest rates unchanged for the second successive meeting, raising hopes that the central bank's hiking cycle may have come to an end.

The move came as widely expected by the markets, leaving the central bank's rate target at 5.25%-5.5%, a 22-year high and bolstering expectations that the Bank of England will also maintain rates later today (2 November). This came despite the US economy exceeding with strong job growth and economic expansion, but the inflation rate remains above the Fed's 2% target.  In a statement on Wednesday (1 November), the Fed said the decision to hold rates had been unanimous, adding that the rate-setting committee would be prepared to adjust the stance of monetary policy "as appropriate" if r...