Recent inflation readings remaining above the Federal Reserve’s 2% target, combined with resilient economic growth and a stable labor market, have anchored trader expectations around two 25-basis-point rate hikes for 2026. The September 25 bp increase to the 3.75-4.00% target range marked the first tightening move in years, while the October hold—with two dissents favoring further action—left markets pricing a high probability of another hike at the December FOMC meeting. Updated September SEP projections lifted the median year-end federal funds rate to 4.1%, reflecting stronger GDP forecasts and elevated core PCE readings near 3.3-3.4%. This path aligns with the 65.5% market-implied probability for exactly two hikes, as additional moves beyond December appear limited by the year-end deadline and the Committee’s data-dependent stance.
本市场将根据美联储在 2026 年加息 25 个基点的确切次数进行结算(包括 12 月会议期间的任何加息)。 在预定的 FOMC 会议之外进行的紧急加息,也将计入 2026 年加息的总次数。本市场将开放至 2026年12月31日 23:59 ET,以便计入任何此类紧急措施。 例如,如果美联储在一次会议后加息 50 个基点,这将视为 2 次加息(每次 25 个基点)。 如果指定的加息次数已不可能实现——也就是说,已经发生的加息次数超过相关门槛——本市场将提前结算为“否”。 请注意,幅度介于 1 至 24 个基点(含两端)的加息,也将视为 1 次加息。 本市场的结算来源将是根据官方日历于 2026 年预定会议后发布的 FOMC 声明:https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm。联邦基金目标利率的水平及其变化也会发布在 Federal Reserve 官方网站:https://www.federalreserve.gov/monetarypolicy/openmarket.htm。
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