Bank of America Says July Fed Rate Hike Unprecedented Given Low Market Odds

BofA deems a July rate hike unprecedented as market probability stays below 60%, citing historical norms since 1994. The bank maintains a bullish USD stance despite inflation risks from oil.

Woofun AI reports that Bank of America expects the Federal Reserve to maintain current interest rates, labeling a potential July hike as unprecedented. The bank noted that since 1994, the Fed has never increased rates when market probability for such a move fell below 60%. Bank of America identifies elevated oil prices as a significant inflation risk and continues to hold a bullish outlook on the US dollar.