September 18, 2019 / 7:01 PM / a month ago

MONEY MARKETS-Traders trim bets on further U.S. rate cuts

NEW YORK, Sept 18 (Reuters) - U.S. short-term interest rate futures turned lower on Wednesday, paring earlier gains, as the Federal Reserve gave mixed signals on its next move after cutting borrowing costs as expected for a second time this year.

At 2:52 p.m. Eastern time (1852 GMT), federal funds futures implied traders saw a 43% chance of a rate cut at the Fed’s Oct. 29-30 policy meeting and a 59% chance of a rate decrease at its Dec. 10-11 meeting, according to Refinitiv. (Reporting by Richard Leong Editing by Chris Reese)

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