1 basis point, or 0.0 1%, then the Fed will cut interest rates by 25 basis points, or 0.25%. According to the observation of CME Federal Reserve, the probability that the Fed cut interest rates by 25 basis points to 1.50%- 1.75% in June is 78%, and the probability of maintaining the current interest rate is 22%. In February 65438, the probability of cutting interest rates by 25 basis points to 1.50%- 1.75% is 49. 1%, the probability of cutting interest rates by 50 basis points is 40.3%, and the probability of maintaining the current interest rate is 10.6%. The Federal Reserve's interest rate cut may lead to a decline in the exchange rate of the US dollar and a relative depreciation of the US dollar, but in fact it has little impact on the China market. Interest rate swap A transaction between banks or companies in which a borrower converts a floating rate loan into a fixed rate loan in another country. These two loans can be in the same currency or in different currencies. The qualification examination for futures practitioners is an introductory examination for futures practitioners and a national qualification examination. The examination is supervised and guided by China Securities Regulatory Commission, sponsored by China Futures Association and specifically undertaken by ATA Company. The purpose of the futures qualification examination. The qualification examination for futures practitioners is to enable relevant domestic personnel to better grasp the basic concepts, principles and knowledge of the futures market, be familiar with the general laws of the development of the futures market, the principles of the futures market and its operation process, and understand the basic business of the futures market, the basic methods and procedures of participating in futures trading, and the strategies and skills of futures trading; Through the study of futures law and supervision system, they can better understand and master the basic legal knowledge, main legal system and supervision system of futures market, enhance their legal concept, law-abiding awareness and self-discipline awareness, and thus improve their professional level. According to the Measures for the Administration of Futures Practitioners, China Futures Association is responsible for organizing the qualification examination.