July 10, 2019 / 4:37 PM / 3 months ago

Fed seen lowering U.S. rates by 25 bps late July - BAML

NEW YORK, July 10 (Reuters) - The Federal Reserve will likely reduce key U.S. borrowing costs by a quarter point at its upcoming July 30-31 policy meeting with the chance of a 50 basis-point decrease, Bank of America Merrill Lynch analysts said on Wednesday.

The U.S. central bank would follow a possible July rate cut with two more at the Fed's next two meetings in the aftermath of a perceived "dovish" testimony from Fed Chairman Jerome Powell before a House panel, the BAML analysts said. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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