It is common to see phrases like

*Markets priced in a 68 per cent chance of a rise in UK interest rates at the next meeting, up from 48 per cent before the June decision was announced*

This example came from the [Financial Times last week.](http://www.ft.com/content/f47e28f0-7541-11e8-b6ad-3823e4384287)

How does the mathematics work behind this? Can someone give a basic example how such numbers can be computed?