### Odds Remain At 98.0% (Very Likely) The U.S. Prime Rate Will Continue At 4.25% After The November 1, 2017 FOMC Monetary Policy Meeting

Prime Rate Forecast |

**Prime Rate Forecast**

As of right now, odds are at

**98.0%**that the Federal Open Market Committee (FOMC) will vote to leave the target range for the benchmark fed funds rate at 1.00% - 1.25% at the November 1

^{ST}, 2017 monetary policy meeting (

**very likely.**)

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The current Prime Rate, which went into effect on June 15, 2017, is

**4.25%**

**.**

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

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- The Commerce Department's first estimate of third-quarter Gross Domestic Product (GDP) came in at
**3.0%**. Economist were expecting a figure closer to 2.5%. - The October final result for the University of Michigan's Index of Consumer Sentiment (ICS) was reported at
**100.7**, a 5.8885% monthly increase, and a 15.4817% year-on-year bump. For the ICS, this is a high not seen since early 2004.

These latest economic data have boosted the odds for an end-of-year (December 13,2017) rate increase.

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**Current Odds**

- Current odds the U.S. Prime Rate will continue at
**4.25%**after the November 1^{ST}, 2017 FOMC monetary policy meeting:**98.0%**(very likely), with**2.0%**odds on a rate increase (very unlikely.)

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- Current odds the U.S. Prime Rate will continue at
**4.25%**after the December 13^{TH}, 2017 FOMC monetary policy meeting:**3.8%**(very unlikely), with**96.2%**odds (very likely) that the U.S. Prime Rate will be at least 25 basis points (0.25 percentage point) higher.

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**NB:**United States Prime Rate = (The Fed Funds Target Rate + 3)

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Labels: banks, fed_funds_target_rate, fomc, odds, prime_rate, prime_rate_forecast, prime_rate_prediction, The_Fed

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