BNP Paribas: Fed rate cuts may be delayed until mid-2026

Odaily News Analysts at BNP Paribas Markets 360 expect the Fed to wait until mid-2026 before cutting interest rates. They have held this view since early December. Their forecasts are based in part on expectations for tariffs, but recent news suggests they may have to raise their initial estimates for tariffs. This makes analysts more confident in their inflation expectations, which are already above market consensus. Money markets currently expect the Fed to resume rate cuts in September. (Jinshi)