U.S. inflation expectations steady for past 10 months

NEW YORK, Feb 11 (Reuters) - U.S. inflation expectations held steady in January after having hovered at that level for much of last year, according to a Federal Reserve Bank of New York survey published on Monday.

The survey of consumer expectations, one of the Fed's price gauges as it weighs how long to leave interest rates unchanged, showed both one- and three-year-ahead median inflation expectations were 3 percent last month, unchanged from December.

The gauges rose to that level in April 2018 and have since held mostly steady.

Stable and low inflation is one of the main reasons that the U.S. central bank, having raised rates four times last year, is now taking a wait-and-see approach to any more tightening in 2019.

Mean unemployment expectations — or the mean probability that the U.S. unemployment rate will be higher one year from now — increased 1.8 percentage points in January, to 40.6 percent, marking the fourth consecutive increase and the highest level since March 2014. The increase was broad-based across age, education and income groups.

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