FXStreet (Delhi) – Research Team at Nomura, presents the key points of the latest release of October FOMC minutes report. Key Quotes “The minutes to the FOMC meeting were somewhat anti-climactic. Some economic data have improved notably since the October meeting. Moreover, subsequent public statements by FOMC participants clearly indicate that a liftoff in December is now the most likely outcome. The minutes had little to add on this critical point and our basic views on a liftoff have not changed.” “The minutes did report an extensive discussion of the so-called “equilibrium real interest rate.” This is a somewhat technical issue, but an important one. In this discussion, the Fed staff and FOMC members seem to express skepticism about how far and how fast they may be able to raise rates. This discussion suggests that FOMC participants are likely to lower their interest rate forecasts at the December meeting. It also reinforces our basic view that the pace of interest rate adjustment next year will be very “gradual.” For more information, read our latest forex news.