March 3, 2017 / 6:40 PM / 3 years ago

Traders keep bets on March rate hike after Yellen remarks

FILE PHOTO -- Federal Reserve Chair Janet Yellen testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., February 14, 2017. REUTERS/Joshua Roberts/File Photo

(Reuters) - U.S. short-term interest rate futures were little changed on Friday after Fed Chair Janet Yellen said that raising interest rates this month would be appropriate as long as the economy continues to improve as expected.

The contracts’ price suggests traders continue to bet the Federal Reserve will raise rates in March, and likely two more times this year. Fed officials had already signaled this week they will raise rates at their meeting in mid-March, and Yellen’s speech served to cement that view.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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