US Federal Reserve holds rates at 3.75%–4%, two members wanted a hike

Eseries Now News: Business

Business 28 Oct 2026, 10:00 PM Dubai time (2 PM US Eastern)

The US central bank kept its benchmark rate unchanged in a 10–2 vote. Its statement described growth as strong but said inflation is still too high, and that it wants more data before its next move. The two dissenting voters preferred a quarter-point increase.

Why it matters: US rates move the dollar, and the UAE dirham is pegged to the dollar, so Gulf borrowing costs often follow. Global investors read this as a sign that a December hike is still possible.

Sources (read the original)

Verified against 2 sources. Sources checked 29 Oct 2026, around 5 PM Dubai time (UTC+4). Summary written in our own words; all rights in the original reporting belong to the publisher.

Disclaimer: Eseries Now shares summaries of public news from the verified sources linked here. We have no involvement in these stories; our aim is to share useful AI, business and sports updates.

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Part of the Eseries Now News daily edition for Thursday 29 October 2026. More: Business news. Made with AI, directed by humans: editors choose the stories, check every fact against the source and write the summary. Spotted an error? Use our contact page and we will correct it. This is general news, not financial, legal or investment advice.