Bank of America has revised its forecast for the Bank of Japan to raise interest rates in January, or this week, from March. The bank now expects the BoJ to raise interest rates by 25 basis points to 0.50 per cent at its policy meeting this Friday. A rate rise in March had previously been BofA's preferred forecast because it gave the BoJ more time to assess the policies of the new US administration. However, strong price data and the possibility that the BoJ board will need to revise its inflati...
Traders ramped up their bets on a rate cut by the Federal Reserve ahead of the U.S. jobs revision, which now expects the central bank to cut rates by a total of 100 basis points in 2024.
The government's benchmark revisions for job growth rely on many variables, making it difficult for Wall Street to predict accurately.