FOMC minutes (Sept 15-16) say most officials saw another rate hike likely in 2026
On 7 October 2026, the FOMC minutes for the Sept. 15-16 meeting showed that most participants assessed “another increase in the target range for the federal funds rate would likely be appropriate by year end,” and that nine of eighteen participants pencilled at least one more 2026 hike.
The desk brief
On 7 October 2026, the FOMC minutes for the Sept. 15-16 meeting showed that most participants assessed “another increase in the target range for the federal funds rate would likely be appropriate by year end,” and that nine of eighteen participants pencilled at least one more 2026 hike.
If the Fed follows through with another 2026 hike, US Treasury yields would likely rise and push up global discount rates. That increases duration sensitivity on SSA external curves (USD) and raises rollover premia for issuers with concentrated external maturities, notably Ghana, which faces heavier refinancing pressure on long-dated USD bonds. Effects depend on the timing and size of any further Fed moves and incoming US data.
Market attention: Oct 27-28 FOMC meeting (next decision) and US CPI/jobs prints ahead of it.
Sources & verification
Developing storyFurther independent confirmation is required.
- Federal Reserve FOMC Minutes: October 2026 Insightsorbitremit.comSource published (opens in a new tab)
- Fed officials view another rate hike as ‘likely,’ meeting minutes showthehill.comSource published (opens in a new tab)
Public references supporting this brief.