US Fed to cut whopping 125 basis points? Here is the latest bps interest rate cut projection
Meanwhile, brokerages including Morgan Stanley are reiterating their expectation of a 25-basis-point interest rate cut by the U.S. Federal Reserve in December, following the nonfarm payrolls data.
Financial markets currently assign a probability of around 70 per cent that the Fed will cut rates by a quarter percentage-point at its December meeting, and a roughly 30 percent chance it will pause, according to data from CME Group.
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That would leave the Fed's benchmark lending rate between 4.25 and 4.50 per cent — one percentage point below its level before the Fed started cutting rates in September.
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