Odds At 82% (Likely) The U.S. Prime Rate Will Continue At 3.5% After Tomorrow's FOMC Monetary Policy Meeting

Prime Rate Forecast

Latest Prime Rate Forecast

As of right now, the investors who trade in fed fund futures via the CME Group have odds at 82% (as implied by current pricing on contracts) that the Federal Open Market Committee (FOMC) will vote leave the target range for the benchmark fed funds rate at 0.25% - 0.5% at tomorrow's monetary policy meeting (likely.)

The current United States Prime Rate, which went into effect on December 17, 2015, is 3.5%.

NB: U.S. Prime Rate = (The Fed Funds Target Rate + 3)

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Current Odds

• Current odds the Prime Rate will continue at 3.5% after tomorrow's FOMC monetary policy meeting: 82% (likely) with a 18% chance of a 25 basis point (0.25 percentage point) rate increase.
  
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• Current odds the Prime Rate will continue at 3.5% after the November 2^ND, 2016 FOMC monetary policy meeting: 76.9% (somewhat likely) with remaining odds for a rate increase.
  
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• Current odds the Prime Rate will continue at 3.5% after the December 14^TH, 2016 FOMC monetary policy meeting: 40.2% (somewhat unlikely), with remaining odds for a rate increase.
  
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• NB: United States Prime Rate = (The Fed Funds Target Rate + 3)

The odds associated with fed fund futures contracts -- widely accepted as the best predictor of what the FOMC will do with the benchmark Fed Funds Target Rate -- are constantly changing, so stay tuned for the latest odds.

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