The Fed maintains 66.3 per cent of the interest rate in July

ACCORDING TO CME “FEDERAL RESERVE WATCH”, THE FED HAD A PROBABILITY OF MAINTAINING INTEREST RATES CONSTANT IN JULY OF 66.3 PER CENT, A PROBABILITY OF A CUMULATIVE INCREASE OF 25 BASIS POINTS OF 33.7 PER CENT TO 31.0 PER CENT IN SEPTEMBER AND A PROBABILITY OF A CUMULATIVE INCREASE OF 51.1 PER CENT TO A CUMULATIVE INCREASE OF 50 BASIS POINTS OF 18.0 PER CENT. THE DATA REFLECT THE MARKET ' S PRICING EXPECTATIONS FOR THE FEDERAL RESERVE ' S MONETARY POLICY PATH, WITH THE PREVAILING PROBABILITY THAT CURRENT INTEREST RATES WILL REMAIN UNCHANGED, INDICATING A CAUTIOUS APPROACH TO INTEREST RATE INCREASES IN THE SHORT TERM. THE RISE IN INTEREST-RATE PROBABILITY IN SEPTEMBER HAS REVEALED AN INCREASE IN THE MARKET’S CONCERN ABOUT THE VISCOSITY OF INFLATION AND POLICY AUSTERITY, REINFORCING THE NEED FOR THE FED TO MAINTAIN POLICY STABILITY IN THE CURRENT HIGH-INTEREST-RATE ENVIRONMENT。