Traders stick to U.S. September rate-hike view after FOMC minutes
NEW YORK (Reuters) – U.S. interest rate futures held steady on Wednesday, signaling traders stuck with their view that the Federal Reserve would raise key borrowing costs next month following the release of the minutes on the U.S. central bank’s July 31-Aug. 1 policy meeting.
At 2:08 p.m. (1808 GMT), federal funds futures implied traders saw a 94 percent chance that the Federal Open Market Committee, the Fed’s policy-setting group, would raise overnight bank borrowing costs by a quarter percentage point to 2.00-2.25 percent at its Sept. 25-26 meeting, CME Group’s FedWatch program showed.
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