Fed poised to leave rates unchanged with 32% chance of hike
The Federal Reserve is expected to leave interest rates unchanged due to renewed Middle East tensions complicating the inflation outlook.
The probability of a July hike has swung sharply, with a 32% chance of a rate hike priced in as of last night.
If the Fed holds rates steady, at least a couple of dissents in favour of a hike are expected.
The Fed’s policy decision is the main event, with markets pricing a significant chance of a hike.