Odaily News Morgan Stanley reiterated on Monday its expectation that the Federal Reserve will cut interest rates by 25 basis points in September, despite the recent sharp decline in global markets. The bank's economists pointed out that although the market reacted strongly to the latest interest rate decision of the Bank of Japan and the weaker non-farm data in the United States, they did not represent a fundamental change in economic conditions, so they insisted on the long-standing expectation that the Federal Reserve will cut interest rates by 25 basis points in September. Looking ahead, Morgan Stanley emphasized that the potential interaction between the Fed's rate cuts and the Bank of Japan's rate hikes may support the yen, and the initial view remains unchanged, and the Bank of Japan is expected to raise interest rates in January next year. (Jinshi)