ICYMI: BoA says next FOMC interest rate hike will come in November instead of September

<p>Bank of America responding after the PPI data on Friday out of the US. </p><p>ICYMI:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-ppi-rattles-the-bond-market-20230811/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: PPI rattles the bond market</a></li></ul><p>BoA argues that despite the unexpected jump in the PPI the Fed's FOMC isn’t likely to raise rates at its next policy meeting on September 19-20. BoA analysts moved their forecast for what they expect to be the final rate hike to the October 31 – November 1 meeting:</p><ul><li>“waiting an additional six weeks would give the Fed more time to assess the trajectory of the economy”</li><li>says there's been a slowdown in the rate of price growth, even though prices overall might still be rising, pointing out that categories that have experienced three-month annualized inflation at or above 5% is now at 23.2%, the lowest reading since November 2020</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.