CME FedWatch: Markets price 98.5% chance the Fed keeps rates unchanged in June

CME's FedWatch tool, cited by CNBC and reported by ChainCatcher, indicates markets are assigning a 98.5% probability that the Federal Reserve will leave interest rates unchanged at its June meeting. The probability of a cumulative 25-basis-point cut stands at 1.5%. For July, FedWatch shows a 91.3% probability of no change. Markets also price in a 7.4% chance of a cumulative 25-basis-point hike and a 1.4% chance of a cumulative 25-basis-point cut.