US RATE FUTURES-See no Fed hike before new year
CHICAGO, May 20 (Reuters) - U.S. short-term interest rate futures continue to target the first quarter of 2010 for a Federal Reserve rate hike after release of minutes from the Fed's April policy meeting.
Futures fully price a fed funds rate of 0.5 percent, against the current range of zero to 0.25 percent, by the end of March.
The FOMC minutes said that there was tentative evidence that the pace of contraction in the U.S. economy may be starting to diminish, and that inflation would likely remain subdued for the next few years.
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