July 31, 2019 / 1:52 PM / 17 days ago

U.S. rates futures hold steady before Fed's rate decision

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

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