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In the latest client note, Kevin Cummins, a senior US economist at NatWest Markets said that the US Federal Reserve (Fed) is likely to deliver a 25-bps rate cut at the Fed’s July 30-31 meeting.

Key Quotes:

“Odds favor of a 25 bps “insurance” cut.

Fed’s consideration of rate cuts is not only about growth but also about inflation, which remains well below target, and inflation expectations, which were breaking to the downside before the Fed signaled the likelihood of cuts.”