The U.K.’s shock decision to quit the European Union is set to reverberate through to policy making in the word’s largest economy, according to futures traders at least. The chances that the Federal Reserve will raise interest rates by December dropped to 15 percent on June 24, from 50 percent the day before. The British vote to leave comes at a time when Fed policy makers -- who earlier this month still forecast two rate increases by yearend -- were already sounding less confident that tighter policy was imminent.
Photographer: Andrew Harrer/Bloomberg
Britain’s Referendum Shock Seen Putting Off Fed Rate Rise: Chart
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