In a Jan 31 note, Gan lists three factors that inform his view, which is above the previous market consensus of one or two cuts this year.
RHB Bank Singapore’s acting group chief economist and head of market research Barnabas Gan is keeping to his forecast of three US Federal Funds Rate (FFR) cuts in 2025 — one per quarter starting 2Q2025.
The US Federal Reserve voted unanimously earlier this week to keep the FFR in a range of 4.25% to 4.5%. The Fed had lowered rates by a full percentage point in the final four months of 2024.
