The Federal Open Market Committee (FOMC) Meeting is imminent, with only a 2.6% probability of a 25 basis point rate cut in July.

On July 25, according to CME’s “Fed Watch” data, there are 5 days left until this month’s FOMC meeting, and the probability of a 25 basis point rate cut in July is only 2.6%, while the probability of keeping the interest rate unchanged is 97.4%. The probability of the Fed maintaining the interest rate unchanged until September is 37.9%, the cumulative probability of a 25 basis point rate cut is 60.5%, and the cumulative probability of a 50 basis point rate cut is 1.6%. The dates for the next two FOMC meetings are July 30 (2 AM Thursday, July 31, Beijing time) and September 17.