Federal Reserve keeps interest rates on hold

Although the US Federal Reserve kept interest rates on hold in November, their comments implied that they remain on track to raise rates by a quarter point in December, as markets are predicting. The Fed seemed undeterred by recent market volatility as it put across a hawkish message, explaining that the current market environment is ideal to continue gradually raising interest rates. The US dollar, which had fallen slightly after the Democrat victory over the House of Representatives on Wednesday, regained some ground, while US and Asian equities fell.