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City now predicts U.S. rate cut by June 2027
Citigroup has postponed its expectations for a US interest rate cut to June 2027, instead of October 2026, following the release of the jobs report which showed a strong and resilient labor market, with 162,000 jobs added in August and the unemployment rate remaining steady at 4.1%. This adjustment reflects a more cautious stance from the Federal Reserve, with forecasts of three rate cuts of 25 basis points each in June, September, and December 2027. Amid expectations that policy focus will shift toward inflation rates after data that recalibrated markets, the probability of a rate hike in September's meeting has risen to 61%.
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