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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.
FED
Of the 28 analyst previews of the March FOMC decision whose previews MNI have seen (and which were published/updated within the past week so relatively up to date), 23 expect a 25bp hike.
- Four (Goldman Sachs, Credit Suisse, Wells Fargo, and NatWest) see a pause.
- One (Nomura) sees a rate cut (25bp).
- The end of the hiking cycle is seen as nearing, with most expecting one or two more 25bp hikes remaining beyond the March meeting.
- Opinion is somewhat split on forward guidance in the statement. A plurality who expressed an opinion on this saw no change, but several see modest changes to “ongoing” to reflect a more dovish rate path ahead.
- A handful expect the Fed to either signal willingness to adjust balance sheet policy in future (eg Morgan Stanley), while others (eg Nomura and NatWest) expect the Fed to immediately end QT at this meeting.
- Most see a slight upward adjustment in the median Fed funds rate “dots” for 2023 and 2024.
- See our full Fed preview for full analyst notes.
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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