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The US Federal Reserve will deliver the third and final 25 basis point rate cut of 2019 at the Oct. 30 meeting, according to Goldman Sachs’ analysts.

The investment bank expects interest rates to remain below 2% through to the next year’s Presidential elections.

As of writing, traders are pricing a 93.5% chance of the Fed is trimming interest rates by 25 basis points to 1.5% to 1.75% target range on Oct. 30, according to CME’s FedWatch tool.