(Bloomberg) -- Directors at nine of the 12 regional Federal Reserve branches sought a 75 basis-point increase in the discount rate in the weeks before the US central bank’s Nov. 1-2 meeting while three favored only raising the discount rate by 50 basis points.

Minutes of discount rate meetings released by the Fed on Tuesday showed that directors at the Federal Reserve banks of Kansas City, New York and Philadelphia had favored the smaller increase.

The Fed on Nov. 2 raised its policy benchmark federal funds rate by 75 basis points, to a target range of 3.75% to 4% in a unanimous vote. It raised the discount rate, which is what banks pay to borrow from the Fed’s discount lending window, by the same amount to 4%.

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