Bank of America: Fed Hike in July Would Be Unprecedented

July 28th, despite market expectations of a low likelihood of a rate hike in July, Bank of America still anticipates the Fed to keep rates unchanged.

The bank stated that a rate hike by the Fed in July would be unprecedented: since 1994, the Fed has never hiked rates when the market-implied probability was below 60%.

Bank of America believes that higher oil prices pose the main inflation risk and remains bullish on the dollar.