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Kiswahili

Chance of Fed raising interest rates in October drops to 17%

Odaily Planet Daily News Non-agricultural data further strengthened the view that the momentum of the U.S. job market is cooling. According to the CME Group's "Fed Watch" tool, traders now expect an 83% chance that the Fed will keep interest rates unchanged at its October meeting, up from 72% before the jobs report. The expected probability of raising interest rates has dropped to 17% from 28%. Interest rate expectations have also cooled. Currently, federal funds rate futures pricing shows that the market expects the Fed to raise interest rates by about 22.2 basis points cumulatively by the end of 2026, down from 25.5 basis points before the data was released.

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