2/28, 5:54 PM (Source: TeleTrader)
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Goldman Sachs expects 25 bp rate cut in March

Goldman Sachs said on Friday it expects that the Federal Reserve cuts the interest rate by 75 basis points in the first half of the year, starting with 25 basis points cut in March.

Regarding global growth, Goldman forecasts it will hover around 2%. The company added that if mitigation efforts fail, a global recession could become an option. The company also said the spreading coronavirus might slice 0.5 percentage points off global growth in the first and 0.2 percentage points in the second quarter.

Earlier this week, Goldman Sachs cut the United States GDP growth forecast for the first quarter of 2020 by 0.2 percentage points to 1.2%, citing a worsening situation with the coronavirus outbreak and higher inflation.

Breaking the News / TF