Washington - The Federal Reserve held off on a rate hike, but three officials opposed the decision — the most dissents since December 2014.

Fed officials concluded that economic growth is improving after an anemic first half of the year, job gains are approaching an apex and inflation remains low. But in a statement after their Wednesday meeting, the majority of Fed officials chose “to wait for further evidence of continued progress.”

Fed Chair Janet Yellen was among the seven who voted to wait. But Kansas City Fed President Esther George, who also dissented after the July meeting, was joined this time by Cleveland Fed President Loretta Mester and Boston Fed President Eric Rosengren in calling for an increase to the short-term federal funds rate. That rate, which determines what banks charge each other for loans, is currently in the range of 0.25 percent to 0.5 percent. Until last December, the rate had been near zero.

Fed committee members meet again in November and December, with the markets expecting at least one rate hike before 2017.... Read More: VIN