"U.S. Fed forecast to cut benchmark interest rate by 0.25%p next month"

The U.S. central bank, the Federal Reserve, is expected to cut its key interest rate by a quarter of a percentage point next month, according to a report.

Reuters reported on the 29th local time that a survey of 111 economists from the 23rd to the 29th showed that all expected this in relation to the Federal Open Market Committee, FOMC meeting on the 7th of next month.

When asked about December's interest rate outlook, more than 90% of the 103 respondents expected a quarter-point cut.

The U.S. wrapped up its "long-term high interest rate" stance last month and carried out a "big cut" to cut interest rates by 0.5 percentage points, lowering the top end of the benchmark interest rate from 5.5% to 5.0%.

The Fed at the time cut its year-end benchmark interest rate forecast to 4.4% from 5.1% previously, suggesting a further rate cut of at least half a percentage point by the end of the year.

Economists believe the Fed will cut its benchmark interest rate to 3.25% at the end of next year by cutting 0.5 percentage points in the first and second quarters and 0.25 percentage points in the fourth quarter, respectively, according to a Reuters survey.

In addition, 39 out of 42 respondents cited former President Trump when asked whose policies would cause more inflation, Republican former President Donald Trump or Democratic Vice President Kamala Harris.