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FOMC Meeting (1st of 2006)

Based upon the 30 January 2006 market close, the CBOT 30-Day Federal Funds futures contract for the February 2006 expiration is currently pricing in a 98 percent probability that the FOMC will increase the target rate by at least 25 basis points from 4-1/4 percent to 4-1/2 percent at tomorrow’s FOMC meeting (versus a 2 percent probability of no rate change).

More details and info on what to expect on a Fed Day can be found here: Fed Days and FOMC Meeting 31 January 2006