US Fed minutes show rates on hold until economy shows 'material change'

The minutes also showed that policymakers further discussed the possibility of setting up a standing repo facility in the wake of recent ructions in short-term money markets

An increasingly divided Federal Reserve that decided to hit pause in its easing cycle following a rate cut at its October meeting offered little guidance on what would cause policymakers to change their minds on the outlook, minutes of the central bank's last policy meeting showed.

The readout released on Wednesday of the October 29-30 policy discussion, at which the Fed voted 8-2 to lower interest rates by a quarter percentage point, also showed policymakers further discussed the possibility of setting up a standing repo facility in the wake of recent ructions in short-term money markets.

"Most participants judged that the stance