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Traders see no further Fed rate rises until next year


(Reuters) - U.S. short-term pared earlier gains on Wednesday after the Federal Reserve delivered a widely expected policy and provided details on its plan to trim its massive balance sheet.

Chicago Mercantile Exchange funds traders had earlier stepped up bets against a third 2017 after a report showed weaker than expected inflation last month.

Just after the Fed's rate-hike decision at 2 p.m, (1800 GMT), they trimmed those bets slightly, but not enough to suggest they have shifted their view that a third this year is unlikely.

Traders now see June next year as the earliest meeting at which the U.S. central bank will next lift its target for overnight borrowing costs, based on funds traded at CME Group as analysed by

(Reporting by Ann Saphir)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)