CME FedWatch sees 72% chance of 0.25 percentage-point Fed hike in December

According to CME FedWatch, the probability that the Federal Reserve will raise its benchmark interest rate by 0.25 percentage point in December was estimated at 72%, while the probability of holding rates steady was 28%. Through January, the probability that the benchmark rate will remain unchanged was 19.3%, while the probability of a cumulative 0.25 percentage-point increase was 58.4% and the probability of a cumulative 0.50 percentage-point increase was 22.3%.