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Tags: citigroup | federal reserve | interest rates | inflation

Citigroup Now Expects November 0.25% Fed Rate Hike

Citigroup Now Expects November 0.25% Fed Rate Hike
(AP)

Thursday, 14 September 2023 07:24 AM EDT

Citigroup now expects the U.S. Federal Reserve to raise its key interest rate by 25 basis points in November, compared with its previous forecast of a September hike.

According to Citigroup economists led by Andrew Hollenhorst, the recent inflation data raised expectations that the Fed would "pause" during the policy meeting next week.

"The slightly stronger-than-expected reading is likely to keep the Fed leaving the 2023 median 'dot' unchanged," Citigroup economists wrote in a note dated Wednesday.

Traders see a 97% chance of the Fed holding rates in September and a near 60% likelihood of a November pause, the CME FedWatch Tool data showed.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Citigroup now expects the U.S. Federal Reserve to raise its key interest rate by 25 basis points in November, compared with its previous forecast of a September hike.
citigroup, federal reserve, interest rates, inflation
104
2023-24-14
Thursday, 14 September 2023 07:24 AM
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