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City expects U.S. rate cut by June 2027
The Citi Group has forecasted that the Federal Reserve will cut interest rates for the first time in June 2027, rather than October 2026 as previously expected. This outlook comes after the release of a strong report on U.S. labor market data in August, which showed an addition of 162,000 jobs and kept the unemployment rate steady at 4.1%. This suggests that policymakers will be more focused on controlling inflation rather than monetary easing, with expectations of three rate cuts, each raising rates by 25 basis points in 2027. Meanwhile, the probability of a rate hike in September has increased to 61%.
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