2023-07-11 08:43:38
As part of the US Central Bank’s efforts to reduce inflation rates
Dubai – Al Arabiya.net
Posted on: July 11, 2023: 11:17 AM GST Last updated: July 11, 2023: 12:43 PM GST
San Francisco Federal Reserve Chair Mary Daley expects the central bank to raise interest rates twice more this year as it continues its efforts to bring inflation rates down to the 2% target in light of the strength of the labor market.
Daly added that while the risks of doing too little still outweigh the risks of going too far, the balance between the two options is starting to improve, which justifies the Fed’s rate hike at a slower pace.
According to CME Group’s Feed Watch service, investors are 95% expecting the US central bank to raise interest rates at its July meeting to a range of 5.25% to 5.5%, while keeping them at that rate before possibly dropping. In the year 2024.
The focus this week is on US Consumer Price Index data, due for release on Wednesday. Core CPI is expected to rise 0.3% month on month in June, according to a Archyde.com poll.
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