Fed Keeps Rates Unchanged in October With 80.6% Probability

According to the CME FedWatch Tool, there is an 80.6% probability that the Federal Reserve will hold interest rates unchanged through October, with a 19.4% chance of a cumulative 25 basis point rate hike. By December, the probability of holding rates steady drops to 21.7%, while the likelihood of a cumulative 25 basis point increase rises to 64.1% and a 50 basis point hike stands at 14.2%. (Caixin Global)