CME Predicts High Probability of Fed Rate Cut in December

According to ChainCatcher, CME's 'FedWatch' tool indicates an 89% probability that the Federal Reserve will cut interest rates by 25 basis points in December, with an 11% chance of maintaining the current rate. By January next year, the likelihood of a cumulative 25 basis point rate cut stands at 64.8%, while the probability of keeping rates unchanged is 7.6%. Additionally, there is a 27.6% chance of a cumulative 50 basis point rate cut.