Fed expected to raise rates on 10 November

The Federal Reserve was widely expected to raise US interest rates on Wednesday 10 November at the conclusion of its FOMC meeting after the unexpected boom in US job creation in October.

US Federal Reserve chairman Alan Greenspan and his colleagues met Wednesday to discuss the outlook for interest rates. A statement explaining the decision is due about 2.15 pm (1915 GMT) Wednesday.

The US economy expanded at a slower-than-expected 3.7 per cent annual pace in the third quarter of 2004, latest da