FOMC minutes preview: looking for timings - Nomura

Analysts at Nomura noted the FOMC minutes coming up this week for Wednesday.

Key Quotes:

"As expected, the FOMC left the fed funds rate target unchanged at the November meeting.

The policy statement was little changed but it appears the Committee did lowered the bar for the next rate hike, as it noted that the case for a rate increase “continued to strengthen” (adding the qualifier “continued”) but decided to “wait for some further evidence” (adding the qualifier “some” to the sentence).

We will look in the minutes to see if there is a stronger consensus building toward the timing of the next rate increase.

We continue to expect the next rate increase to come this year at the December FOMC meeting."