Finance & Stock Market News

US RATE FUTURES-Implied chances of deep Oct rate cut grow

Thu, 2nd Oct 2008 14:16

NEW YORK, Oct 2 (Reuters) - U.S. interest rate futures on Thursday showed an increase in the implied chance of a deep interest rate cut by the Federal Reserve at its policy-setting meeting later this month.

Short term interest rate futures raised the perceived chance of a 50 basis-point cut in the fed funds target rate by the late October policy meeting, to about a 70 percent chance on Thursday from about 64 percent shown early on Wednesday.

Early on Thursday, a government report showed higher-than-expected weekly initial jobless claims, signaling the U.S. labor market continued to deteriorate.

(Reporting by John Parry; Editing by Chizu Nomiyama ) Keywords: MARKETS RATEFUTURES/

Chuck Mikolajczak

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