At the last Fed meeting, most participants were in favor of slowing the pace of key rate hikes. This was shown by the minutes of the November meeting published yesterday, which emphasized that such a move seems appropriate in the short term. Nevertheless, the final value of the rate, according to the regulator's forecast, will be higher than expected, as the rate of inflation decline is too slow.

The step of increase will be determined by the Fed, based on its general course for tightening of the monetary policy and the expected impact on the United States economy. As noted in the minutes, a slower pace would allow a better assessment of the extent to which the inflation and employment targets are being approached. However, in the view of some participants, it is too early to slow the rate hike - the rate should be raised to a higher level first and there should be more convincing evidence that inflation has gone down.