Analysts at Scotiabank offer a sneak peek at what to expect from Wednesday’s FOMC minutes, as the rate hike timing remains on the market’s radar.

Key quotes

“A watchful eye toward discussions around timing lift-off for the policy rate. The meeting concluded that the FOMC "is prepared to adjust the pace of purchases if warranted by changes in the economic outlook" and so watch for a discussion around the criteria for doing so. A fuller discussion is likely at the December meeting.”

“It's unlikely that the minutes will reveal a further dialogue on broader plans for the balance sheet. “

“There may be a limited discussion around lift-off timing, but here too the December meeting and its fresh dot plot will likely be more revealing. “