Federal Reserve's October Rate Decision: High Probability of Rate Cut

According to PANews, the CME's "FedWatch" tool indicates a significant likelihood of a rate cut by the Federal Reserve in October. The probability of maintaining the current interest rate stands at 8.1%, while the chance of a 25 basis point reduction is at 91.9%. Looking ahead to December, the probability of keeping rates unchanged drops to 1%, with an 18.5% chance of a cumulative 25 basis point cut and an 80.5% likelihood of a cumulative 50 basis point reduction.