Barclays said on Wednesday it no longer expects the U.S. Federal Reserve to raise interest rates in January, compared with an earlier forecast of a 25-basis-point hike.
Rates will remain unchanged until December next year, the brokerage said.
The brokerage expects the U.S. central bank to start trimming rates by 25 bps every other meeting after the end of next year, and that would bring the Fed funds’ target range to 5.00%-5.25% at the end of 2024 and at 4.00%-4.25% by 2025-end.
Read More : Barclays Predicts Fed Will Maintain Rates in January