Traders expect about 60% chance of Fed rate cut in December

Analyst Adam Button said the Fed minutes sent a consistent message about gradual policy adjustments, with only ‘some’ officials talking about a pause. According to CME Watch data, traders expect the Fed to cut rates by 25 basis points at next month's meeting is 59.6 per cent, up from 52.3 per cent on Monday, but little changed from 58.9 per cent a week ago.