Fed policymakers will meet on December 17-18 to decide whether to cut interest rates further or postpone them until next year.

Financial markets are pricing in a 55% chance of a quarter-point cut, according to the Investing Saudi Arabia US Rate Tracker tool. This illustrates the extent of the division and uncertainty around the Fed’s next move.

This has decreased from last week, when the odds of a cut were around 85%.

Markets are now pricing in a 45% chance of a hold, a significant shift in monetary policy expectations in a matter of days, as the probability of a hold was only around 15% the previous week, reflecting a shift in expectations due to Fed members’ statements.