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US RATE FUTURES-See Fed cutting 100 bps this week

Sun Mar 16, 2008 8:44pm EDT

CHICAGO, March 16 (Reuters) - U.S. short-term interest rate futures rose strongly on Sunday after the Federal Reserve announced an emergency cut to its discount rate and other moves to stabilize financial markets.

The rally pushed chances for the Federal Open Market Committee to lower the federal funds rate by 100 basis points at or before Tuesday's policy meeting as high as 84 percent from 52 percent at Friday's close.

A 100 basis point reduction would push the feds rate to 2.0 percent from 3.0 percent, the lowest since December 2004.

(Reporting by Ros Krasny)



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