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Soft CPI Sees Analysts Assess Second Hike, Cuts Timing

US OUTLOOK/OPINION
  • The timing of the first Fed cut starts coming more explicitly into focus after June’s inflation reading. A few see early 2024 but NatWest leads with its pre-CPI call of a 50bp cut in December.
  • Some of those at the more hawkish end of the spectrum who had been looking for a second rate increase in Sept after July’s expected hike start assessing whether it could be pushed into Nov (including Barclays, BofA, Citi and RBC).
  • Taken from the full MNI US Inflation Insight, found here: https://marketnews.com/mni-us-inflation-insight-jul-23-genuinely-softer-price-pressures

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