A 25-basis point interest rate hike by the Federal Reserve in May is now more likely to materialize as a result of the surprise oil production cut announced on Sunday by OPEC+, futures traders predict. Chances now are higher for a May interest rate hike on the same level as the most recent hike, which was one-quarter of a percentage point, MarketWatch cited Fed funds futures traders as saying. Fed funds futures traders now pinpoint a more than 58% chance of the May rate hike, up from 48% last Friday. On Sunday, OPEC+ shocked oil markets…
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