Citigroup Revises U.S. Federal Reserve Interest Rate Cut Forecast to June
Citigroup has adjusted its forecast for the Federal Reserve's interest rate cut, citing a dovish stance and mounting geopolitical risks. The brokerage firm now anticipates a total of 125 basis points in rate cuts by 2024.
Citigroup has revised its forecast for the U.S. Federal Reserve's interest rate cut, bringing forward the expected 25 basis-point reduction from July to June. This decision is based on the central bank's dovish stance, declining inflation, and mounting pressures from geopolitical risks. The brokerage firm announced on Wednesday that it anticipates a total of 125 basis points in rate cuts by 2024, up from its previous projection of 100 basis points. This adjustment would bring the policy rate to 4.25%.
The Federal Reserve's dovish stance comes in the wake of a softer core inflation report, which has fueled investor expectations of earlier interest rate cuts. Additionally, escalating tensions in the Middle East have introduced further uncertainty into the global economy. Citigroup highlighted the ongoing uncertainty in the Middle East, emphasizing the potential for heightened pressures on shipping routes, transport costs, and oil prices.
Citigroup's revised forecast reflects the evolving economic landscape, with the Federal Reserve's dovish stance and geopolitical tensions driving the decision to bring forward the anticipated interest rate cut. Citigroup Revises U.S. Federal Reserve Interest Rate Cut Forecast to June
Citigroup Revises U.S. Federal Reserve Interest Rate Cut Forecast to June
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