(Reuters) – Nomura on Friday forecast the U.S. Federal Reserve delivering a 100-basis-point interest rate cut in 2024 and reducing the pace of balance-sheet rundown in June, followed by an end to quantitative tightening in December.
“We expect Friday’s PCE (personal consumption expenditures) report to show the 3m and 6m annualized pace of core PCE running below the Fed’s 2.0% target,” Nomura analysts said in a note. (This story has been refiled to correct the dateline to Jan. 26)
(Reporting by Reshma Rockie George in Bengaluru)