Traders bet Fed will make another, bigger rate cut in mid-March

March 6 (Reuters) - Traders of futures contracts tied to the Federal Reserve's policy rate were betting Friday on another, even bigger reduction to borrowing costs at the U.S. central bank's mid-March meeting.

The Fed this week delivered an emergency half a percentage point rate cut to help shield the U.S. economy from the effects of the new coronavirus. Prices in rate futures show traders now see a 59% chance of a 0.75 percentage point rate cut coming by the March 17-18 meeting. (Reporting by Ann Saphir; Editing by Kevin Liffey)