The probability of the U.S. Federal Reserve cutting interest rates by 25 basis points to a target range of 3.5%-3.75% has fallen to 30%, down from 50% both a day and a week ago, and sharply from 98% a month ago, according to RialCenter.
The conviction has evaporated amid concerns over a prolonged data blackout, making it increasingly difficult for policymakers to make an informed decision. The Labor Department confirmed that it wouldn’t release the jobs data for October, citing the record-length recently concluded government shutdown.
At the same time, minutes of the October Fed meeting released showed deep fissures over whether to pause or cut rates.
Bitcoin changed hands at $91,700 at press time, up 0.8% on a 24-hour basis.
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