The probability of the Fed raising interest rates by 25 basis points in July is 92.4%.

According to CME Fed Watch, the probability that the Federal Reserve will raise interest rates by 25 basis points to the range of 5.25%-5.50% in July is 92.4%, and the probability of pausing rate hikes is 7.6%.

The Federal Reserve will announce its July interest rate decision at 2:00 a.m. on July 27, followed by a monetary policy press conference by Federal Reserve Chairman Powell.