Standard Chartered Predicts 25 Basis Point Fed Rate Cut in December
The UK-based bank revises its outlook, now expecting the U.S. Federal Reserve to lower interest rates by 0.25% at its December policy meeting.
Summary
Standard Chartered has updated its forecast, now predicting the U.S. Federal Reserve will cut interest rates by 25 basis points in December. This marks a change from its earlier projection that the Fed would keep rates unchanged.
Terms & Concepts
- Basis Point (bps): A unit equal to 0.01%, commonly used to describe changes in interest rates or yields.
- Federal Reserve: The central banking system of the United States, responsible for setting monetary policy including interest rates.