Just In: Barclays Predicts No Interest Rate Hike In Upcoming Fed Meeting

Read full article at Coingape.

Fed Rate Hike News: UK based bank Barclays on Monday made a major flip on its previous US Fed interest rate hike decision for the upcoming FOMC meeting to be held between 21 and 22 March, 2023. From raising its forecast to a 50 basis points hike, the bank appears to have weighed in the ongoing turmoil in US banking sector for a no hike scenario. It indicated that the US Federal Reserve could consider giving weightage to risk management given the failure of Silicon Valley Bank and the Signature Bank. Meanwhile, the crypto market seems to be buoyed with the latest FUD around US banks as Bitcoin price took a massive 20% hike compared to 24 hours ago.

Also Read: Cardano Founder Brings Up Crypto Collaterals Amid US Bank Collapse

FOMC March 2023 Meeting

The key Federal Open Market Committee (FOMC) will is coming at tricky time when US regulators shut down the two banks in what were the largest bank failures since the recession in 2008. The latest note from Barclays said concerns around financial stability gained importance in the current market scenario. Hence, it sees a no hike scenario in the upcoming meeting. Earlier, US President Joe Biden declared that the US banking system was safe. He also pledged to impose stricter regulations on the banks.

“With financial stability concerns moving to the forefront, we adjust our call to assume no hike at the upcoming FOMC meeting, justified by risk management considerations.”

Meanwhile, the CME FedWatch Tool, which gauges the likelihood of the next Fed rate hike decision, shows a probability of no hike at 30.6% currently while 69.4% chances are of a 25 bps rise. In this context, the Bitcoin price is hovering around the $24,000 milestone currently.

Also Read: Massive Bitcoin (BTC) Whale Transfers Sign Of Pump And Dump?

The post Just In: Barclays Predicts No Interest Rate Hike In Upcoming Fed Meeting appeared first on CoinGape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Related articles

Bitcoin Price Prediction as Huge $75 Billion Trading Volume Floods In – Are Whales Buying?

Read full article at Crypto News.The global cryptocurrency market has managed to stop its previous losing streak and gained some ground, with Bitcoin and Ethereum leading the charge. Bitcoin, the world’s oldest and most valued crypto, climbed above the $25,000 mark early Friday morning, while Ethereum drew bids around above the $1,700 level.  Other popular […]

Learn More

Medha Parlikar, Co-Founder and CTO of CasperLabs, on Enterprise Blockchain Solutions and Future Proof Blockchain | Ep. 213

Read full article at Crypto News.In an exclusive interview with cryptonews.com, Medha Parlikar, Co-Founder and CTO of CasperLabs, talks about how blockchain needs to be future-proof, blockchain tech providing a trust layer for enterprise, and the origin story of Casper Labs. … Read More: Medha Parlikar, Co-Founder and CTO of CasperLabs, on Enterprise Blockchain Solutions and […]

Learn More

XRP News: Ripple Funds Stuck In Collapsed Silicon Valley Bank? Garlinghouse Replies

Read full article at Coingape.XRP News: Amid an increasing wave of uncertainty triggered due to the collapse of the United States based crypto friendly banks, Ripple Labs CEO, Brad Garlinghouse decided to address rumors building around its exposure to the collapsed Silicon Valley Bank. Ripple “Had” Exposure To SVB Brad Garlinghouse accepted that they had […]

Learn More