Bank of America: If the Federal Reserve raises interest rates in July, it will be unprecedented

According to Jinshi, although the market expects a low probability of the Federal Reserve raising interest rates in July, Bank of America still anticipates that the Federal Reserve will keep interest rates unchanged. The bank stated that since 1994, the Federal Reserve has never raised interest rates when the market probability of a rate hike was below 60%, and raising rates under such circumstances would be unprecedented.

Bank of America believes that higher oil prices are the main inflation risk and holds a bullish outlook on the dollar.