By Jonathan Davies

The Federal Reserve is 'unlikely' to raise US interest rates soon, according to the bank's January meeting minutes.

The minutes showed that the Fed is concerned about lower-than-expected inflation and slow wage growth.

US interest rates have been at 0% since 2008 when the Fed slashed them to boost the economy.

"Many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping [rates at zero] for a longer time," the minutes said.

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