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Traders expect the U.S. to hold rates steady next month, despite recent comments from Federal Reserve chair Janet Yellen.

"In light of the continued solid performance of the labour market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months," she said on Friday at the Jackson Hole summit of central bankers.

As of Monday morning, the market-implied odds of a rate hike at the September meeting sat at 40 per cent, according to Bloomberg data. That's higher than before Ms. Yellen's speech, but traders still see a December hike as more likely.

Of course, sentiment could shift following Friday's U.S. jobs report.