KONTAN.CO.ID - NEW YORK. BofA Global Research said on Monday that it expects the U.S. Federal Reserve to deliver four 25-basis point (bps) rate cuts next year, starting in March. The brokerage raised its quantum of cuts for next year to 100 bps from 75 bps, with the central bank expected to lower rates in March, June, September, and December. It also raised the country's economic growth forecast on a quarterly average basis by 0.6 percentage points to 1.2% for next year, driven by stronger consumer spending.
BofA Sees Four Rate Cuts from Federal Reserve Next Year
KONTAN.CO.ID - NEW YORK. BofA Global Research said on Monday that it expects the U.S. Federal Reserve to deliver four 25-basis point (bps) rate cuts next year, starting in March. The brokerage raised its quantum of cuts for next year to 100 bps from 75 bps, with the central bank expected to lower rates in March, June, September, and December. It also raised the country's economic growth forecast on a quarterly average basis by 0.6 percentage points to 1.2% for next year, driven by stronger consumer spending.