Probability of US Fed Raising Rates by 25 Basis Points in May Grows to 45.1%

According to CME Fed Watch Tool, the probability of the US Fed maintaining interest rates in May is 54.9%, that of a 25-basis-point hike is 45.1%, that of reducing rates by 25 basis points at the June meeting is 7.8%, that of maintaining the rates unchanged is 53.5%, and that of an accumulative rate hike by 25 basis points is 38.7%.