VIEW: BNP Paribas have changed their "Fed.......>

FED: VIEW: BNP Paribas have changed their "Fed call and now expect the FOMC to

raise rates just once more this year, in June. The Fed has changed its tune

following its December meeting and in our view has effectively communicated a

near-term pause. But we see this pause lasting only to June - we see a likely

improvement in Q2 data and conditions, along with more pronounced signs of

resource pressures, moving the Fed to nudge rates closer to its central

estimates of neutral, consistent with its risk management approach. As we

transition into the second half of the year, we expect broader signs of a

slowdown in activity to preclude the Fed from raising rates again this cycle."