Citi is forecasting a Federal Open Market Committee (FOMC) interest rate hike in November

<p>Info comes via Reuters. Citigroup is with the consensus forecasting no Fed Funds change at the September FOMC meeting, but to raise the rate in November by 25 bps. </p><p>Citi had previously forecast a September hike but say recent inflation data has led it to expect a pause, but "The slightly stronger-than-expected reading is likely to keep the Fed leaving the 2023 median 'dot' unchanged".</p><p> An updated look at the CME 'FedWatch' tool reflecting the consensus September expectation:</p>

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