Key facts
- The current interest rate stands in the 3.75%-4% range.
- Markets are pricing in a 9.4% chance of a rate increase at the October meeting.
- Markets are pricing in an 86.2% chance of a rate increase in December.
Global brokerages anticipate the US Federal Reserve will maintain its current interest rates at its upcoming policy meeting on Wednesday. BofA Global Research is noted as an outlier among the surveyed firms, with most expecting no rate hike in October. The Fed's decision is under scrutiny ahead of the midterm elections, with rising energy prices and tariffs contributing to cost-of-living concerns. Interest-rate futures indicate a low probability of a rate increase at the October meeting, with a higher likelihood of a move in December.