BNP Paribas expects four U.S. Fed rate hikes of 50 bps each By Reuters

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© Reuters. A man walks past the logo of BNP Paribas at the bank’s building in Issy-les-Moulineaux, near Paris, France, February 3, 2022. REUTERS/Gonzalo Fuentes

HONG KONG (Reuters) – Analysts at BNP Paribas (OTC:) expect the U.S. Federal Reserve to hike interest rates by 50 basis points at each of its next four policy meetings, they said on Thursday, pointing to the bank’s resolve to frontload rate tightening due to inflation pressures.

On Wednesday, the U.S. central bank raised its benchmark overnight interest rate by half a percentage point, for its biggest jump in 22 years.

Its chair, Jerome Powell, said policymakers were ready to approve half-percentage-point rate hikes at policy meetings in June and July.

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