The US Fed is expected to hold rates this week, but more hikes may follow

Chance of a hold, rate futures

90 %

Rate futures price a 90 per cent chance the Fed holds its rate at 3.75 to 4.00 per cent at its Oct 27-28 meeting. Inflation picked up last month, and a rate hike in September was the Fed's latest move.

A sharp rise in US Treasury yields after the September hike made policy-makers cautious. BMO's chief US economist expects at least one dissent and two more hikes to contain inflation.