Fed Expected to Cut Interest Rates
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Most Fed watchers and futures traders expect the Federal Reserve will trim the federal funds rate by a quarter point to a range of 3.5% to 3.75% on Dec. 10.
Morgan Stanley said on Friday it now expects the U.S. Federal Reserve to deliver a quarter-percentage point rate cut in December, joining peers J.P.Morgan and BofA Global Research, following dovish remarks from central bank policymakers.
The Federal Reserve maintained its benchmark interest rate on Wednesday, keeping borrowing costs at their highest level in more than two decades despite a prolonged cooldown of inflation. An interest rate cut is widely expected in the coming months.
BENGALURU] Gold prices held steady above the US$4,200 mark on Thursday (Dec 4), buoyed by weak private payrolls data that reinforced expectations of a US interest rate cut at the US Federal Reserve’s monetary policy meeting next week.
By Pablo Sinha (Reuters) -Gold prices held steady on Tuesday as softer-than-expected U.S. retail sales data reinforced traders' expectations that the Federal Reserve will trim interest rates in December.