Fed Likely to Hold Rates Steady This Week, 63.7% Probability on July 28

According to the CME FedWatch Tool data released on July 28, the probability of the Federal Reserve maintaining interest rates unchanged in July stands at 63.7%, with a 36.3% chance of a 25 basis point rate hike.

Looking ahead to September, the market prices in an 18.5% probability of unchanged rates, a 55.7% chance of a cumulative 25 basis point increase, and a 25.8% probability of a cumulative 50 basis point hike.