FXStreet (Delhi) – Research Team at BNP Paribas, suggests that the minutes of the latest FOMC meeting of 27 and 28 October has hinted towards the December lift-off. Key Quotes “For most of FOMC members, the particularly feeble inflation of recent months is mainly due to lower oil prices and a stronger dollar. Members emphasised the inflation was turning around, even though it is still moderate and at the very beginning of a recovery phase. Some members also pointed out the emergence of labour market pressure, which is spreading to several types of employment and geographic regions.” “Most Fed officials think the conditions will come together for a key rate increase in December. A minority believe that the conditions had already come together at the end of October, and the same number fear that conditions still will not be ripe in December. The balance is clearly tipping towards a December rate increase. The shift in the majority is reflected in the decision to modify the press release published on 28 October, to indicate that the first key rate increase could be decided at the next meeting on 15 and 16 December.” For more information, read our latest forex news.