(Adds dropped word “percent” in 2nd paragraph)
April 30 (Reuters) - U.S. short-term interest-rate futures contracts were little changed on Wednesday after the Federal Reserve said it will continue to wind down its bond-buying program, with traders keeping in place their bets the Fed will wait until July 2015 before raising rates.
The contracts show markets are assigning a roughly 69 percent chance of a first Fed rate hike in July 2015, based on CME FedWatch, which tracks rate hike expectations using its Fed funds futures contracts.
The Fed has targeted short-term rates of between zero and 0.25 percent since December 2008, and has promised to keep them there for a “considerable time” after it ends its bond-buying program. (Reporting by Ann Saphir; Editing by Chizu Nomiyama and Chris Reese)