The impending Federal Reserve Board meeting on July 26th is very likely to raise interest rates by another 25 basis points (bps), as suggested by a formidable 99.8% probability. Currently, the target rate is positioned between 500-525bps, and this forecast adjustment will raise the Federal Funds rate to a range of 525-550bps.
In addition, a lot of attention has been focused on the Federal Reserve (Fed) meeting scheduled for September 20th. Current forecasts now put the chances of another rate hike at 18%, and that probability looks to be on an upward trajectory.
Across the Atlantic, the European Central Bank (ECB) is expected to announce its decision the day after the Federal Reserve’s verdict. Indications are also for a 25bps rate hike, raising the current rate to 425bps.
The post first appeared on CryptoSlate, despite the expected further rate hikes towards the end of the summer.