All but one of the Federal Reserve Banks sought to leave the primary credit rate, better known as the discount rate, unchanged at 75 basis points in April, minutes of the Federal Reserve Board's discount rate meetings released Tuesday show.

Once again, directors of the Kansas City Fed wanted to raise the rate 25 basis points to 1% in a bid to "normalize" the Fed's rate structure.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.