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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MNI Fed Preview - May 2023: Moving Meeting-To-Meeting
MNI Fed Preview - May 2023: Moving Meeting-To-Meeting
EXECUTIVE SUMMARY:
- A 25bp hike in May could mark the end of the Fed’s hiking cycle.
- With rates above 5%, and sticky inflation fears offset by the tightening effect of banking sector woes, the FOMC is likely to move to a meeting-by-meeting policy beyond May, while retaining a bias toward further policy firming.
- But with widespread expectations that the Fed will change its forward rate guidance to hint at an end to the hiking cycle, or even open the door to cuts, there is a hawkish risk that guidance is left unchanged.
- There is a case for the Fed to pause at this meeting, but that would be likely to signal panic about the underlying health of the banking sector.
Note to readers: MNI’s separate preview of sell-side analyst summaries to follow on Monday May 1
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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