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JPM See Policy Rate Reaching Slightly Above Neutral Earlier

CANADA
  • JPM continue to call for a 50bp hike in Sep and 25bp in Oct.
  • This takes the policy rate to 3.25% by year-end, having previously seen that coming in mid-2023 having got to 3% by year-end when calling for a 75bp hike today.
  • Unclear whether this is still JPM’s projected terminal rate.

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