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Market Mood

The September Federal Open Market Committee (FOMC) meeting is expected to initiate US rate cuts, though the extent of reductions remains uncertain. Early data suggests inflation could ease towards the Fed’s 2% target, supporting cuts, though a higher-than-expected core CPI raises the likelihood of only a 25-basis-point cut. The Bank of England (BoE) has begun reducing rates cautiously due to persistent service sector inflation, with more cuts likely later this year, though September may see rates held steady. Meanwhile, the Bank of Japan (BoJ) is not expected to adjust rates immediately, though easing inflation and interest rate differentials have impacted the USD/JPY exchange rate.

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