September 26, 2017 / 4:57 PM / a year ago

MONEY MARKETS-Traders see higher chances on U.S. rate hike after Yellen

NEW YORK, Sept 26 (Reuters) - U.S. interest rate futures added to earlier losses on Tuesday as Federal Reserve Chair Janet Yellen suggested the central bank is on track for further rate increases despite inflation remaining stuck below the Fed’s 2-percent goal.

Federal funds futures implied traders saw a 78 percent chance the Fed would raise interest rates at its Dec. 12-13 policy meeting , the CME Group’s FedWatch tool showed. This compared with 73 percent shortly before the release of Yellen’s prepared speech at the National Association of Business Economists in Cleveland. (Reporting by Richard Leong; Editing by Chizu Nomiyama)

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