FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
NEW YORK (Reuters) – The Federal Reserve will likely reduce key U.S. borrowing costs by a quarter-point at its upcoming July 30-31 policy meeting with the chance of a 50 basis-point decrease, Bank of America Merrill Lynch analysts said on Wednesday.
The U.S. central bank would follow a possible July rate cut with two more at the Fed’s next two meetings in the aftermath of a perceived “dovish” testimony from Fed Chairman Jerome Powell before a House panel, the BAML analysts said.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
