Buy $GGsJust In: Barclays Predicts No Interest Rate Hike In Upcoming Fed Meeting
Fed Rate Hike News: UK based bank Barclays on Monday made a major flip on its previous US Fed interest rate hike decision for the upcoming FOMC meeting to be held between 21 and 22 March, 2023. From raising its forecast to a 50 basis points hike, the bank appears to have weighed in the ongoing turmoil in US banking sector for a no hike scenario. It indicated that the US Federal Reserve could consider giving weightage to risk management given the failure of Silicon Valley Bank and the Signature Bank. Meanwhile, the crypto market seems to be buoyed with the latest FUD around US banks as Bitcoin price took a massive 20% hike compared to 24 hours ago.
Also Read: Cardano Founder Brings Up Crypto Collaterals Amid US Bank Collapse
FOMC March 2023 Meeting
The key Federal Open Market Committee (FOMC) will is coming at tricky time when US regulators shut down the two banks in what were the largest bank failures since the recession in 2008. The latest note from Barclays said concerns around financial stability gained importance in the current market scenario. Hence, it sees a no hike scenario in the upcoming meeting. Earlier, US President Joe Biden declared that the US banking system was safe. He also pledged to impose stricter regulations on the banks.
“With financial stability concerns moving to the forefront, we adjust our call to assume no hike at the upcoming FOMC meeting, justified by risk management considerations.”
Meanwhile, the CME FedWatch Tool, which gauges the likelihood of the next Fed rate hike decision, shows a probability of no hike at 30.6% currently while 69.4% chances are of a 25 bps rise. In this context, the Bitcoin price is hovering around the $24,000 milestone currently.
Also Read: Massive Bitcoin (BTC) Whale Transfers Sign Of Pump And Dump?
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Trump Says The U.S.-Iran War Could End Soon, Mulls Taking Over Strait Of Hormuz
- Bhutan Dumps More Bitcoin as BTC Price Climbs Amid Falling Oil Prices
- Bitget Upgrades Agent Hub to Enable OpenClaw, Claude Code to Trade Crypto in Real Time
- Why Next Two Weeks Are Do or Die for Crypto Market?
- Breaking: Tom Lee’s BitMine Acquires 60,976 ETH As BMNR Stock Eyes Recovery
- Top Analyst Explains Why Pi Network Price May Soar to $0.50 This Week
- Is MSTR Stock Going to Rally $150?
- Bitcoin And XRP Price Prediction As US Oil Prices Fall Sharply- Will This Spark a New Bull Rally?
- Is It a Good Time to Buy XRP As Price Falls 64% From All-time High
- Will Crypto Market Crash This Week? Analysts Predict Timeline for Volatility
- Gold Price Prediction Ahead of March 18 FOMC Meeting
