Citi traders are maintaining their view that the U.S. Federal Reserve will keep interest rates unchanged this week, according to a July 27 update cited by BlockBeats. Akshay Singal, the bank’s head of global short-term rate trading, said the position held by his desk would profit if the Fed leaves rates steady. He added that the team continues to expect no change in policy at this meeting. Singal also said Fed Chair Walsh has made clear that markets should focus on the data, and that the data shows there is no need for the Federal Reserve to raise rates at this point. The remarks reflect Citi’s current trading stance ahead of the Fed decision.
Citi traders are betting that the Federal Reserve will keep interest rates unchanged this week, according to a July 27 report from BlockBeats.
Akshay Singal, Citi’s head of global short-term rate trading, said the desk’s position would profit if the Fed leaves rates steady.
"We still expect rates to remain unchanged," Singal said. He added that Fed Chair Walsh has made it clear that markets should pay attention to the data, and that the data indicates the Fed does not need to raise rates at present.
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