Polymarket odds put October Fed rate hike at 64% as yields pressure Bitcoin

  • Federal Reserve raised its benchmark rate to 3.75%-4% on September 16.
  • Rate traders assign roughly a 64% probability to an October 28 rate increase.
  • Bank of Japan raised its policy rate to about 1.25% on September 18.

Rate traders assign roughly a 64% chance to another Federal Reserve interest-rate increase on October 28 after the central bank lifted its benchmark range to 3.75%-4% on September 16. Chair Kevin Warsh said policymakers should focus on broader trends rather than individual data points, leaving the next decision dependent on incoming evidence. August core PCE inflation is forecast to rise to 3.4% annually from 3.3% in July, while personal spending is projected to increase 0.5%, its largest monthly gain in more than a year. A final estimate of second-quarter GDP, the ISM manufacturing survey and the September jobs report will also guide market expectations. Bitcoin traded near $84,728 as higher yields and returns on safer assets can reduce demand for risk-sensitive investments. Bank of Japan minutes will be closely watched after the central bank raised its rate to about 1.25% on September 18 and said it would continue raising the policy rate.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.