Rate Cut Probability Declines After Fed Comments
The probability of the US Federal Reserve implementing a quarter-point rate cut at its December meeting has decreased to 65.3 per cent, as of late Monday afternoon in New York.
This figure is consistent with the close of trading last week but significantly lower than the 94.4 per cent recorded a week prior, leading up to the Fed’s most recent meeting.
Federal Reserve chairman Jerome Powell has indicated that a December rate cut is not guaranteed, a stance echoed by other policymakers in recent speeches.
Author's summary: Rate cut probability drops to 65.3%.