NEW YORK (Reuters) - U.S. interest rates futures held steady on Wednesday as traders stuck with bets the Federal Reserve would lower key lending rates for the first time in a decade to counter downside risks from trade conflicts and softening global demand.
At 9:18 a.m. (1318 GMT), federal funds futures implied traders are fully positioned for at least a quarter-point decrease in the central bank’s target range on interest rates, which is currently at 2.25%-2.50%, CME Group’s FedWatch tool showed. FFQ9 FFN9
The Federal Open Market Committee, the central bank’s rate-setting group, is expected to release its rate decision at 2 p.m. (1800 GMT).
Reporting by Richard Leong