Barclays forecasts two U.S. rate hikes

Barclays Bank expects the U.S. Federal Reserve to raise interest rates by 25 basis points in September and December, following Fed Chair Kevin Worch's hawkish tone, which indicated that inflation remains high and the labor market is stable. This suggests a continued likelihood of interest rate hikes throughout the year. Markets currently estimate a 60.4% chance of a rate increase in September, with attention turning to the Fed’s decision on September 16 to observe its monetary policy direction.