Fed set to hold rates steady ahead of Trump's leadership decision

(Nov 1): The Federal Reserve is expected to keep interest rates unchanged on Wednesday as speculation swirls on who will be its next leader, but the US central bank will likely point to a firming economy as it edges closer to a possible rate rise next month.

The Fed has raised rates twice since January and currently forecasts one more hike by the end of the year as part of a tightening cycle that began in late 2015.

Investors have all but ruled out a move at the end of this week’s two-day policy meeting. The Fed is due to issue its latest policy statement at 2 pm EDT (1800 GMT).

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