Interest rate cut in the US almost a certainty for July

Interest rate cut in the US almost a certainty for July

Jerome Powell, Chairman of the US Federal Reserve bank cast a surprisingly dovish tone at yesterdays meeting which has, in the minds of investors, nailed on a rate cut later on this month. Currently the market is expecting at least a quarter percentage point cut to the US base rate with speculation that any weakness in Q2 US earnings announcements next week could prompt a half a percentage cut to US rates in an attempt to stave off any further economic weakness from the worlds largest economy.