February 21, 2018 / 7:26 PM / in a year

Traders keep bets on Fed rate hikes after latest meeting minutes

(Reuters) - U.S. short-term interest-rate futures pared earlier losses on Wednesday after the Federal Reserve released minutes of its January policy-setting meeting showing policymakers were increasingly confident inflation would perk up.

Still, bets in the contracts continued to reflect firm expectations that the Fed will raise rates three times this year, based on a Reuters analysis of fed funds futures contracts traded at CME Group Inc. Traders continued to expect the first hike of the year to come next month, giving it about a 94 percent chance.

Reporting by Ann Saphir in San Francisco; Editing by Chizu Nomiyama

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