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Markets challenge analyst predictions
The US Federal Reserve is heading towards keeping interest rates unchanged within the range of 3.5% to 3.75% during its meeting on September 15-16, despite market expectations of a potential increase. A Reuters survey indicated that around 70% of economists expect no change in the interest rate, compared to more than half who anticipated a raise in August. The Fed's decision will heavily depend on August inflation data, as a sudden increase in inflation could trigger the start of a rate hike cycle. Meanwhile, the persistence of inflation above the bank’s 2% target for more than five years suggests that rates will remain high until 2028. The bank faces political pressures to cut interest rates, while market bets on a possible future hike grow, amid rising inflation concerns and expectations of rate increases to curb it.
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