Fed Holds Steady Amid Inflation Fears
The US Federal Reserve is expected to hold interest rates steady at its meeting today, but analysts predict some policymakers may dissent in favor of a rate hike.
The Fed's open market committee (FOMC) will announce its decision at 2:00pm (1800 GMT), followed by a press conference by Chairman Kevin Warsh.
Most investors anticipate the Fed to maintain rates at 3.50-3.75 per cent for the fifth consecutive meeting, according to CME's FedWatch monitoring tool.
However, bets on a rate hike have been increasing due to surging inflation fueled by President Donald Trump's war on Iran, which has seen renewed fighting in recent weeks.
Consumer inflation eased to 3.5 per cent year-on-year last month but is expected to rise again due to seesawing oil prices from the conflict.