Washington DC, Nov. 10 -- US Federal Reserve Governor Christopher J. Waller on Tuesday signalled support for a 25-basis-point interest rate hike at the Federal Open Market Committee's (FOMC) December meeting, while indicating that a larger 50-basis-point increase could be considered if October inflation remains elevated.

Speaking at the Bank of England Watchers Conference in London, Waller said he would support a rate hike even if inflation improves in October.

"While I am hoping for an improvement over September, even if this occurs, I would still support a 25 basis point increase in the FOMC's policy rate at our December meeting. However, if inflation comes in substantially higher than I expect, more robust action by the FOMC may be c...