No more rate hikes: Markets believe the Fed rate pause is nigh

Quick Take

• Chances of any more rate hikes seem to have disappeared after the recently reported weak U.S. macro data.
• A pause is now the firm favorite for the next two meetings, with roughly 75bps rate cuts throughout the year.
• The market believes the US rates will end the year at 4-4.25%.
• Australia’s Central Bank joined Canada in “pausing” interest rates.
• Liquidity is drying up; banks are reluctant to lend while the economy slows down. These could be the biggest headwinds that Bitcoin would face.

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