Fed-Funds Futures See At Least 50 BP Ease By Next Week's FOMC
CHICAGO (Dow Jones)--Fears of a global recession will force the U.S. Federal
Reserve to continue a strategy of aggressive rate cuts, according to pricing
early Friday in nearby federal-funds futures contracts.
The November fed-funds contract was fully priced for at least a half
percentage point ease, which would reduce the key short-term rate to 1% by the
next regularly-scheduled meeting of the Federal Open Market Committee, set for
next Tuesday and Wednesday.
Some market participants anticipated the Fed and other major central banks
worldwide would impose coordinated emergency rate cuts, similar to their Oct. 8
action. That day, the Fed lowered the funds rate a half percentage point cut to
its current level of 1.5%
(END) Dow Jones Newswires
24-10-08 1320GMT
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