Citi is forecasting a Federal Open Market Committee (FOMC) interest rate hike in November

Info comes via Reuters. Citigroup is with the consensus forecasting no Fed Funds change at the September FOMC meeting, but to raise the rate in November by 25 bps.

Citi had previously forecast a September hike but say recent inflation data has led it to expect a pause, but “The slightly stronger-than-expected reading is likely to keep the Fed leaving the 2023 median ‘dot’ unchanged”.

An updated look at the CME ‘FedWatch’ tool reflecting the consensus September expectation:

This article was written by Eamonn Sheridan at Source