As the U.S. economy holds up better than expected in the face of aggressive interest rate hikes, markets have started pricing in a higher peak rate as the Federal Reserve battles sticky inflation in a tight labor market.
Recent U.S. data, including an uptick in personal consumption expenditure - the Fed's preferred gauge of inflation, has prompted some major investment banks and brokerages to factor in the possibility of a 50-basis-point rate hike in March versus 25 bps expected earlier.
Money market traders still see an 80% chance of the Fed delivering a smaller 25-basis-point rate hike in March. Banks have flagged the possibility of the Fed's peak rate rising as high as 6%, above the 5.42% by September that markets are currently pricing in.Compiled by the Broker Research team in Bengaluru; Editing by Saumyadeb Chakrabarty
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