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The CME Group FedWatch’s December 25 bps rate hike probability stayed unchanged at 82.7% after the FOMC published the minutes of its November meeting minutes.

“Almost all participants expressed the view that another increase in the target range for the federal funds rate was likely to be warranted fairly soon,” the FOMC said in its publication and added:

“Members continued to expect that further gradual increases in the target range for the federal funds rate would be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term.”