Bank of America: Fed expected to cut interest rates twice this year

The Federal Reserve is likely to keep interest rates unchanged next week, while predicting two rate cuts this year starting in September, Bank of America economists said in a report. "Incoming data should convince the Fed that the economy is cooling, but it will need more evidence of slowing inflation before it can cut rates," the bank said. This forecast coincides with market pricing based on CME data. Meanwhile, the European Central Bank cut interest rates today as expected, but some analysts sensed a tough tone in the central bank's communications, indicating that further rate cuts may not be in the future. (Jinshi)