May 10, 2018 / 1:15 PM / 4 months ago

MONEY MARKETS-Traders see Fed on track to raise rates in June after CPI miss

NEW YORK, May 10 (Reuters) - U.S. interest rates futures rose on Thursday even as a smaller-than-expected increase in the U.S. consumer price index in April did not alter traders’ expectations the Federal Reserve will mostly likely raise key borrowing costs in June.

At 8:46 a.m. (1246 GMT), federal funds futures implied traders saw a 100 percent chance the U.S. central bank would raise overnight borrowing costs between banks by a quarter point to 1.75-2.00 percent at its June 12-13 policy meeting . This was unchanged from the level before the release of the April CPI report, according to CME Group’s FedWatch program. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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