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The Countdown Begins – Major Banks on Wall Street Forecast Dates for Rate Cuts Ahead of FED Decision on Wednesday
Leading financial institutions have shared their predictions prior to the upcoming FED interest rate announcement on Wednesday, impacting the world of cryptocurrencies as well.
Writer:
Mete Demiralp
10.06.2024 – 19:22
Update:
6 seconds ago
0
In the wake of robust employment data from last week and in anticipation of the FED’s decision to maintain interest rates on Wednesday, Wall Street’s top banks have unveiled their projections for the first rate cuts of 2024.
Estimates from banks regarding the timing and magnitude of the initial rate cuts vary widely; some foresee cuts as early as September, while others anticipate them in December or even 2025. Predicted reductions range from 25 basis points (BPS) to 100 BPS.
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Here are the interest rate reduction forecasts from banks based on their current data:
Bank of America, BNpp, and Deutsche Bank anticipate a 25 BPS rate cut in December as the first move.
Barclays, Citigroup, Evercore ISI, Goldman Sachs, HSBC, Kalshi, Morgan Stanley, Nomura, Oxford Economics, TD Securities, UBS, and Wells Fargo project the initial cut to occur in September. Expected reductions range from 25 BPS to 75 BPS.
JP Morgan and LH Meyer predict the first cut in November and December, respectively, with a 25 BPS reduction each.
MUFG forecasts the earliest and most significant rate cut of 100 basis points in July.
RBC also foresees the first reduction in December, with a 25 BPS cut.
Jefferies, Mizuho, and Societe Generale do not foresee any rate cuts until 2025.
*This does not constitute investment advice.
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