August 25, 2017 / 2:16 PM / a year ago

Traders see later Fed rate hike after Yellen is mum on policy

Aug 25 (Reuters) - U.S. short-term interest rate futures gained slightly on Friday, reflecting reduced expectations that the Federal Reserve will raise interest rates further this year, after Fed Chair Janet Yellen skipped mention of monetary policy in a widely anticipated speech.

Yellen’s comments focused on financial stability and bank regulation. Traders continue to see the Fed as likely to wait until June to next raise interest rates, based on a Reuters analysis of fed funds futures traded at CME Group Inc’s Chicago Board of Trade. Before her remarks, traders saw close to an even chance of a March rate hike. (Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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