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Fed holds interest rates and prepares for more hikes

EURUSD News by Newsroom on 15:59 November 08, 2018 EST

No big changes made to Fed policy statement. The Federal Reserve o held interest rates steady while signaling that it will stay on course and increase rates up at a gradual pace in coming months on Thursday.

As expected, its benchmark target for rates was unchanged in a 2% to 2.25% range.

In November, the central bank left the core of its prior policy statement unchanged.

A hawkish FED sated that with jobs gains “strong” and economic activity “rising at a strong rate,” the Committee expects further gradual increases in the target range for the federal funds rate,”.

The statement said risks to the economic outlook “appear roughly balanced." and  that inflation remains near its 2% target.

It noted though that the growth of business investment had moderated in the third quarter.

The statement was unanimous and made no mention of the increased volatility in financial markets since the last FOMC meetin g.

Stocks were a dash lower after the release.