(Reuters) – Citigroup now expects the U.S. Federal Reserve to raise its key interest rate by 25 basis points (bps) in November, compared with its previous forecast of a September hike.
“The slightly stronger-than-expected reading is likely to keep the Fed leaving the 2023 median ‘dot’ unchanged,” Citigroup economists wrote in a note dated Wednesday.
(Reporting by Subhadeep Chakravarty in Bengaluru; Editing by Krishna Chandra Eluri)
