June 4, 2019 / 4:29 PM / 4 months ago

U.S. Fed, PBOC seen cutting rates on trade tensions: BAML

NEW YORK (Reuters) - Bank of America Merrill Lynch analysts said on Tuesday they expect the U.S. and Chinese central banks would reduce domestic interest rates in the coming months as the trade conflict between their governments have intensified since May.

They projected Federal Reserve would cut key U.S. borrowing costs by 75 basis points by early 2020, beginning in September, while the People’s Bank of China would lower rates twice later in 2019 and once in 2020.

Reporting by Richard Leong and Trevor Hunnicutt

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