With just the shift in the timing for the next rate cut, JP Morgan seems to be still holding the view of a terminal rate of 1.75%. For some context, the majority of analysts were expecting a September rate cut to be next but there are differing views on the terminal rate.
Of note, the likes of Deutsche, Citi, Barclays, and Nomura had forecast the terminal rate for 1.50% going into the meeting decision yesterday. Meanwhile, JP Morgan is joined by the likes of Commerzbank, Goldman Sachs (now changed to 2%), Societe Generale, UBS, and Danske in forecasting a terminal rate of 1.75%.
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