ING Forecasts Fed Holds Rates Steady at FOMC Meeting This Week

According to ING, on July 27, the bank forecasted the Federal Reserve will hold rates unchanged at this week's FOMC meeting. ING expects no interest rate hikes for the remainder of the year if oil prices continue declining, though it acknowledged the market remains uncertain about the Fed's decision and forward guidance is lacking.

CME FedWatch data shows the market is pricing in a 64% probability of a rate hold and a 36% probability of a hike at the upcoming FOMC meeting.