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The OECD expects the Federal Reserve and the European Central Bank to each raise rates once more this year, followed by stable interest rates in 2027; the Bank of Japan may continue raising rates, while the Bank of England may cut rates next.
BNY Mellon strategist John Velis expects the Federal Reserve to raise rates once more in December, but said the 2027 policy path depends on inflation, the situation in the Middle East, and changes in oil prices.
Barkin stated that last week's rate hike will help restore price stability, and the Federal Reserve will watch whether further rate hikes are needed. There is a 1-day discrepancy between the report date and the date stated in the body.