Fed to cut Federal Funds rate by 25 bps to 3.75%-4.00% range on October 29
According to a poll by Reuters, 115 of 117 economists have predicted that the Federal Reserve (Fed) will reduce interest rates by 25 basis points (bps) to 3.75%-4.00% in the monetary policy announcement on October 29.
For the entire year, the United States (US) Fed will cut its Funds Rate twice more this year, say 83 of 117 economists, 32 say once
The bigger risk to the Fed rate policy by the end of this cycle is that it would set rates too low, say 25 of 33 economists.
Despite intensified speculation among economists that the Fed will reduce interest rates in its two upcoming policy meetings, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, extends its two-day recovery move 0.35% higher to near 98.95.
Source: Fxstreet
