Post-CPI futures point to 42% likelihood of full-point Fed rate hike this month

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Traders’ expectations for a 100 basis point rate hike by the Federal Reserve at its next meeting jumped to 42% on Wednesday, up from 7.6% on Tuesday, according to the CME FedWatch Tool. They still see a 58% chance of a 75 basis point in two weeks, but that’s down from 92.4% on Tuesday. A 100 basis point rate hike would take the fed funds rate target up to between 2.5% and 2.75% from its current level between 1.5% and 1.75%.

This article was originally published by Marketwatch.com. Read the original article here.

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