The Federal Reserve predicted another interest rate hike

Traders involved in futures contracts tied to the Federal Reserve’s interest rate continue to expect the US central bank to raise rates by a quarter of a percentage point in May, despite retail sales in the country dropping more than expected in March, according to Reuters.

Short-term interest rate futures reflect the sentiment that the Fed is more likely to raise rates in May by about four times, rather than not raising them at all. The current target range stands at 4.75%-5.00%.