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‘Compelled by circumstances’: Some banks forecast 75-bp Fed hike - BusinessWorld Online

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Investment banks have ramped up projections for US interest rate rises following a hotter-than-expected inflation reading, with several now forecasting a 75-basis-point (bp) hike this week. READ:

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The US Federal Reserve meets on Wednesday in the midst of heavy selling in stock and bond markets following May data showing the US consumer price index rising at its fastest pace since 1981.CME’s FedWatch tool, based on the prices of short-term credit futures, shows about a 1/4 chance of a 75-bp rate hike at this month’s meeting and a better-than-even chance of there being at least one 75 bp hike by next month’s meeting.

 

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