Fed funds futures contracts price in further quarter-point hikes
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FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo
(Reuters) - Traders of futures tied to the Federal Reserve's policy rate on Wednesday largely stuck to the view the central bank will keep raising rates a quarter of a point at its next three meetings.
The U.S. central bank released minutes of its most recent meeting, Jan. 31 - Feb. 1, showing most policymakers agreed more rate hikes will be needed.
After the release the contracts continued to price in a top Fed policy rate in the 5.25%-5.5% range by June, similar to pricing before the release.
The current target range is 4.5%-4.75%.
(Reporting by Ann Saphir; Editing by Kirsten Donovan and Chris Reese)
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