Fed, ECB outlook

The futures markets shows the highest chance yet of two more hikes from the U.S. central bank this year, with the first seen as a near certainty at the Federal Reserve meeting later this month. In Europe, the press conference following the ECB’s monetary policy decision tomorrow may help investors decide on the timing of a rate hike, with traders betting on no move until end-2019, later than economists’ projections. Officials familiar with the ECB’s latest projections say forecasts for euro-area growth will be tweaked lower as trade tensions damp global demand.