CME FedWatch shows 97.3% chance of Fed rate hold in June

According to the CME FedWatch Tool, the probability of the U.S. Federal Reserve holding interest rates steady at its June meeting is 97.3%, while the chance of a 25 bp hike is 2.7%. For the July meeting, the probability of rates remaining unchanged is 84.8%. The cumulative probability of a 25 bp increase by then is 14.8%, with the chance of a cumulative 50 bp hike at 0.3%.