FOMC: Preview of policy meeting
Tomorrow at 19:15 CET the Federal Open Market Committee (FOMC) is set to announce its policy rate decision. Sentiment in global equity markets continues to be very negative and the improvement in USD money market rates has slowed to a snail's pace since Thursday. In our view, the current backdrop will keep the Fed from disappointing market expectations, which would risk amplifying the downbeat sentiment. Consequently we have marked down our Fed forecast and now expect the Fed to cut rates by
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