CME FedWatch shows 63.7% chance of Fed rate hold in July

Data from CME FedWatch indicates a 63.7% probability that the Federal Reserve will hold its benchmark interest rate steady at the July Federal Open Market Committee (FOMC) meeting, with a 36.3% chance of a 25 basis point (0.25 p.p.) hike. Looking ahead to the September meeting, the probability of a rate hold is 26.1%, while the chance of a cumulative 25 bp hike stands at 52.2%.