Economic news
US rate futures raise chances of November rate hike after upbeat jobs data
2023.07.06 09:56
© Reuters. FILE PHOTO: The U.S. Federal Reserve Building in Washington, D.C./File Photo
NEW YORK (Reuters) – U.S. interest rate futures on Thursday saw an increased probability of another rate rise by the Federal Reserve in November after news private payrolls surged last month, suggesting a still tight and strong labor market.
The benchmark fed funds futures factored in a 48% chance of a hike in November, compared with about 36% the day before, according to CME’s FedWatch. For next month’s Fed policy meeting, the odds of a 25 basis-point hike at 95%, compared with 90.5% late on Wednesday.
