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Dealers continue to see 1st Fed rate hike in Q3 2015 -Fed survey
November 15, 2012 / 7:01 PM / in 5 years

Dealers continue to see 1st Fed rate hike in Q3 2015 -Fed survey

NEW YORK, Nov 15 (Reuters) - U.S. primary dealers on average expect the Federal Reserve to wait until the third quarter of 2015 to raise interest rates, according to an October survey conducted by the New York Federal Reserve Bank that was released on Thursday.

Expectation are the same as they were in September when the 21 large financial institutions that do business directly with the Fed pushed back their forecast for the start of interest rate hikes to the third quarter of 2015 from the first quarter.

That was before the Fed announced later in September that it intended to keep interest rates on hold at their current low levels until at least mid-2015.

The current October survey was conducted before the widely anticipated outcome of the Fed last policy meeting in October.

At the October meeting the U.S. central bank repeated its vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth while the recovery strengthens.

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