Prior to the FOMC statement, a rate cut at this Fed meeting was a foregone conclusion, with an 85.4% probability of another rate cut in December.

According to CME's "FedWatch": The probability of the Federal Reserve cutting interest rates by 25 basis points in October is 97.8%, while the probability of keeping rates unchanged is 2.2%. The probability of the Fed keeping rates unchanged by December is 0.3%, with a cumulative probability of a 25 basis point rate cut of 14.3% and a cumulative probability of a 50 basis point rate cut of 85.4%. The probability of the Fed keeping rates unchanged by January next year is 0.1%, with a cumulative probability of a 25 basis point rate cut of 7.5%, a cumulative probability of a 50 basis point rate cut of 50%, and a cumulative probability of a 75 basis point rate cut of 41.6%. (Jinshi)