August 21, 2019 / 6:40 PM / a month ago

MONEY MARKETS-Traders stick to 25 bps rate-cut bets after Fed minutes

NEW YORK, Aug 21 (Reuters) - U.S. interest rates futures held at lower levels on Wednesday as traders stuck to their bets the Federal Reserve would lower key lending rates by a quarter-point in September, following their first rate cut since 2008 last month.

The Fed released its minutes on its July 30-31 policy meeting on Wednesday, which showed a couple of officials calling for a 50 basis-point rate cut, steeper than the 25-basis point decrease the central bank decided on.

At 2:10 p.m. (1810 GMT), federal funds futures implied traders saw a 98.1% chance of a quarter-point cut to 1.75-2.00% at next month’s policy meeting, little changed after the release of the latest Fed minutes. (Reporting by Richard Leong; editing by Jonathan Oatis)

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