Markets Price 90% Odds the Fed Holds Rates Steady in October

Markets priced a 90% probability that the Federal Reserve would keep its benchmark federal funds rate unchanged at its October 27-28 meeting, according to CME. A Reuters poll expected it to stay within 3.75%-4.00%. The decision is due October 28. Odds this high mean the hold is largely priced in; the statement's language on future moves matters more.