October rate hike odds retreat below 30%

What happened: Market pricing for Federal Reserve policy shifted sharply in the past day, per the CME FedWatch tool. The probability of a 25 basis point rate increase at the October 28 FOMC meeting fell to 27.1%. Key numbers: 27.1% odds of a 25 basis point hike at the October 28 FOMC meeting, down from 50%. Why it matters: The drop below 30% shows traders now see an October hike as unlikely, a sharp repricing of Fed policy expectations in a single day.

October rate hike odds retreat below 30% signals shifting macro rate expectations.

October rate hike odds retreat below 30% signals shifting macro rate expectations. — impact context not separately stored; see What changed.