October 5, 2012 / 6:26 PM / 5 years ago

Dealers saw first Fed rate hike in Q3 2015: survey

(Reuters) - U.S. primary dealers on average expect the Federal Reserve to hold off until the third quarter of 2015 before beginning to raise interest rates, according to a September survey conducted by the New York Federal Reserve Bank that was released on Friday.

The survey was conducted before the Fed announced last month that it intended to keep interest rates on hold at their current low levels until at least mid-2015.

Dealers had previously predicted rate hikes to begin in the first quarter of 2015.

The dealers in the September survey forecast that the federal fund’s target rates would stand at 1 percent at the end of 2015, according to the median forecast.

Reporting by Atossa Araxia Abrahamian; Editing by Leslie Adler

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