FOMC minutes (Oct 7) show most participants saw another 2026 rate hike as likely
On October 7, 2026 the Federal Reserve released minutes from its September 15–16 FOMC meeting showing most participants judged “another increase in the target range would likely be appropriate by year end,” signalling guidance for at least one more 25bp hike in 2026.
The desk brief
On October 7, 2026 the Federal Reserve released minutes from its September 15–16 FOMC meeting showing most participants judged “another increase in the target range would likely be appropriate by year end,” signalling guidance for at least one more 25bp hike in 2026.
If Fed guidance for an additional 2026 hike materializes into higher US Treasury yields and a firmer dollar, valuation discount rates on long-duration African USD eurobonds (notably Ghana, Egypt and Kenya) will rise, lowering bond prices. A stronger dollar also raises local-currency costs of servicing USD external debt, stressing fiscal and rollover dynamics where FX coverage is limited.
FOMC meeting on October 27–28, 2026 and the September CPI release on October 14, 2026.
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Public references supporting this brief.