Fed Keeps Rates Unchanged in October With 83.9% Probability

According to the CME FedWatch Tool, the probability of the Federal Reserve holding rates steady through October stands at 83.9%, while a cumulative rate hike of 25 basis points is priced in at 16.1%. By December, the likelihood of maintaining current rates drops to 8.2%, with a 77.3% chance of a cumulative 25-basis-point increase and a 14.5% probability of a 50-basis-point hike. (Caixin Global)