CME FedWatch data on March 23 showed markets still expected the Federal Reserve to hold rates steady in April, while pricing in higher chances of rate hikes by June.
CME FedWatch data reported on March 23 showed an 87.6% probability that the Federal Reserve will keep interest rates unchanged in April, down from the 93.8% probability cited on March 21. The probability of a 25 basis-point hike in April rose to 12.4%. For June, markets priced a 76.5% chance of no change, a 21.9% chance of a 25 basis-point hike, and a 1.6% chance of a 50 basis-point hike.