Standard Chartered: A significant division is expected at the Federal Reserve December meeting.

Steve Englander of Standard Chartered Bank stated in a report that if the Federal Reserve lowers interest rates in December, there is likely to be four dissenting votes. The G10 foreign exchange research and North American macro strategy head said that if the Fed keeps rates unchanged, there could be three or more dissenting votes. He said, "The issue is that those wanting a rate cut may be hoping for a reduction of more than 25 basis points, while those preferring to stay put may want to keep rates unchanged at more than one meeting." He said, for the market, this means pricing may continue to fluctuate between staying put and cutting rates before the meeting on December 10th.