2023-06-15 10:12:00
© Archyde.com. JPMorgan’s expectations for the upcoming US Federal Reserve decisions
Arabictrader.com – After surprising the markets yesterday, Wednesday, by keeping interest rates unchanged during the Monetary Policy Committee meeting; bringing the current interest rate to 5.25%; The US investment bank JP Morgan (NYSE:) JP Morgan believes that the US Federal Reserve is expected to resume raising interest rates once more at its next July meeting.
The economists at the US bank indicated that the US Federal Reserve may raise interest rates by 25 basis points at its next meeting.
In this context; Bank of America (NYSE:) also expects the US Federal Reserve to raise interest rates by 25 basis points in the July-September meetings, pushing the final interest rate into the range of 5.50-5.75%.
As for the economic forecasts of Bank of America; The bank predicted that the US economy would slow over two quarters, with real GDP for the fourth quarter likely to grow by 1.1% on a quarterly basis versus a contraction of 0.2% previously forecast.
And during previous forecasts; Economists at Bank of America have suggested that interest rates may reach 6% next year, stressing that the US Federal Reserve has not finished raising interest rates yet, given that it aims to reach the target of high inflation at the level of 2%.
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