August 11, 2017 / 12:57 PM / a year ago

MONEY MARKETS-Traders pare Dec U.S. rate-hike view after soft CPI data

NEW YORK, Aug 11 (Reuters) - U.S. interest rate futures extended earlier gains on Friday as data showed domestic price growth remained weak, stoking traders to dial back their view the Federal Reserve would raise key overnight borrowing costs at the end of the year.

Federal funds futures suggested traders saw a chance of as low as 40 percent the U.S. central bank would increase short-term rates at its Dec. 12-13 policy meeting, compared with 42 percent shortly before the release of the July consumer price index. (Reporting by Richard Leong; Editing by Chizu Nomiyama)

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