Fed's meeting minutes supports US rate cut bets

The minutes of the last Federal Reserve meeting released today showed that last month's meeting showed the tendency of many central bank members to cut interest rates in the short term.

A number of members said that as pressure, risk and uncertainty continue to weigh on the US economy, the rate cut decision will be justified.

The central bank had decided at a meeting last month to keep the interest rate unchanged, but hinted a cut during this year, while stressing that the data issued in the following weeks will be assessed in order to confirm the need of the decision.

The Federal Open Market Committee officials pointed that a short-term rate cut would support and dampen the potential impact and future shocks to the economy.

They also said that the continued decline in inflation while remaining below the Fed's target threatens of weak inflation expectations in the coming period.