April 26, 2019 / 4:18 PM / 3 months ago

U.S. Fed may cut interest on reserves next week - Morgan Stanley

NEW YORK, April 26 (Reuters) - The Federal Reserve may lower the interest it pays on excess reserves banks leave with it by 5 basis points at its April 30-May 1 policy meeting in a bid to prevent the federal funds rate from drifting higher, Morgan Stanley analysts said on Friday.

This would mark the third such "technical" adjustment on the interest on excess reserves (IOER) following cuts last June and December. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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