Fed Rate Move by April Doubted as China Concerns Traders: Chartby
The fallout from China’s stock market rout is prompting traders to cut their bets on the Federal Reserve boosting rates again by April.
Traders see a 43 percent chance that policy makers in Washington will lift the benchmark rate by their April meeting, down from 52 percent as recently as Tuesday. Investors back from holidays this week witnessed stock plunges in China that led authorities to close trading early twice. Turmoil caused by worries over the world’s second-largest economy last year helped convince the Fed to delay a rate increase from September to December. For full story, click here.